WPP Digital picks up majority stake in UK digital consultancy Cognifide
WPP Plc digital unit WPP Digital has acquired a majority interest in British digital consultancy firm Cognifide in a deal that will benefit both companies. The value of the stake buy was not disclosed, according to NASDAQ.
Under the terms of the said deal, WPP Digital and its digital agency network will take equal interests in Cognifide. The latter will be able to tap new markets and expand its product portfolio. WPP, on the other hand, will be able to beef up its marketing technology campaigns and tap Cognifide's clients, the report detailed.
Currently headquartered in Dublin, Ireland, WPP and its network of companies provide advertising and communication services to its clients worldwide, the report stated.
Cognified, on the other hand, is a digital consultancy firm that provides content management services. The firm also helps manage digital assets of businesses through its product offerings. Skype, Roche, and Virgin Media are among the most notable clients of Cognified, NASDAQ reported.