WPP Plc buys stake in Candyspace

September 2
1:36 PM 2013

WPP Plc, the advertising firm, announced it had acquired a minority stake in Candyspace Media Ltd, a multi-platform agency based in the United Kingdom. 

Candyspace was established back in 2005 in London and operates as a full service mobile and multichannel digital agency. It has an employee headcount of 25 individuals and its expertise lies in strategic planning, user experience, design and development, testing and analytics as well as project and campaign management.

WPP's digital revenues are well over US$5 billion for 2012 and this was a third of total Group revenues that reached USD16.5 billion. WPP has now set its sites to a growth of between 40% and 45% of revenues to be generated from fast growth markets and new media in the next half decade.

This investment is in line continues WPP's policy of developing services in important markets and sectors. Overall, WPP companies and its associates employ nearly 15,000 people in the UK with total overall revenues of USD3 billion.

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