WPP buys The Group in digital drive
WPP has acquired online corporate communications company The Group, as it looks to build its digital portfolio.
The Group is being merged with WPP’s corporate communications specialist Addison to create new consultancy Addison Group.
The new consultancy will employ around 120 people and have revenues of £12 million. It will be headed by Mark Hill, founder of The Group, who will become Addison Group’s chairman. Addison’s chief executive Tom Robinson will be chief executive of the new entity.
Hill says, ‘By combining these market-leading businesses, we are reacting to the needs of our clients, who are asking for integrated communications solutions which offer demonstrated value for money and high creativity across all channels and audiences.’
WPP says the acquisition is part of its ‘declared commitment to strengthening digital capabilities’. The group says it is targeting at least 40-45 per cent of its revenues to come from each of fast-growth markets and new media over the next five years.
WPP has made a number of acquisitions since the mega-merger of its rivals Omnicom and Publicis at the end of July.
These include acquisitions of Latin American digital consultancy Brandigital and a majority stake in Hong Kong digital group Designercity, which formed in London in 1995 before relocating to east Asia.