WPP owned Possible Worldwide has agreed to purchase a majority stake in German digital agency Conrad Caine for an undisclosed sum.
The transaction comes as part of WPP’s strategy of investing in fast-growing markets, new media and digital with Germany currently the fourth largest market after the US, UK and China.
Conrad Caine was founded in Munich in 1998 where it employs 140 people specialising in the delivery of digital strategy, user experience, asset creation, campaigns and CRM for clients.
The business also has an extensive presence in South America with offices in Pelotas, Brazil and Buenos Aires, Argentina.
WPP’s digital revenues topped $6.9bn in 2014, amounting to 36 per cent of total income with this share expected to rise to up to 45 per cent by 2021 as part of a digital-first strategy.