JWT acquires stake in Pakistan digital marketing agency Converge Technologies
WPP has announced that its advertising and communications company JWT is set to acquire, by subscription for new shares, a minority stake in Converge Technologies.
The digital marketing services agency in Pakistan has clients such as Nokia, Pakistan State Oil, PTCL and Unilever.
WPP said in a statement: “This investment continues WPP's strategy of developing its services in faster growing geographic markets and sectors and strengthening its capabilities in digital media and the application of technology.
“WPP has set a target of 35-40% of revenue derived from digital in the next five years. Pakistan is one of the fastest-growing markets in the world, identified by Goldman Sachs as one of the Next 11 economies to watch.”
