WPP acquires minority stake in Turkey’s Wanda Digital
Global advertising firm WPP has announced that its J.Walter Thompson subsidiary has acquired a minority stake in Wanda Digital, the Turkish independent digital agency.
Formed in 2006 the agency has since grown to employ 80 people from its Istanbul HQ, serving global and local brand names including L’Oreal, Nestle and Turkcell.
Specialising in campaigns, social media, platform development, games and apps Wanda posted sales of $3.4m for the year to 31 December 2014.
Under the terms of the deal Wanda and J.Walter Thompson’s local office will continue to operate independently but will invest jointly in technology and projects.
It is the latest acquisition to be made by WPP as it seeks to expand its footprint in emerging markets, targeting 11 economies where WPP companies and associates envisage strong growth.