WPP’s interactive and new economy division-holding company – Wpp.com has bought a four per cent stake, worth £4.75m, in Italian e-business consulting and services company Inferentia.
The investment, which had risen to a value of £5.5m within 24 hours of Wpp.com’s acquisition, is part of WPP’s objective to develop its digital media portfolio and an acknowledgement of Italy’s standing as the fastest-growing Internet market in Western Europe.
The Milan-based company is part of Gruppo Inferentia, a leading independent Italian group covering all areas of e-business which includes Altavista Italia, Banca di Roma and Royal Insurance among its clients.
In total, Wpp.com now has interests in several groups across the digital media sector. These include E-Rewards, TWI Interactive and Concept. In total, Wpp.com earned £62.5m of pure on-line revenue duing 1999.