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WPP Digital acquires minority stake in Percolate
MUMBAI: WPP Digital, the digital investment arm of WPP, has acquired a minority interest in Percolate Industries. This will enable multiple WPP companies to create streamlined and engaging content on behalf of their clients.
Founded in 2011, Percolate employs approximately 100 people and is based in New York with offices in London and San Francisco. Clients include MasterCard, Cigna, Ford, Red Bull, Diageo, Unilever and the University of Phoenix.
The acquisition is part of WPP’s strategy of strengthening the Group’s capabilities in fast-growing sectors and markets. WPP’s digital revenues were well over $5 billion in 2012 and represented 33% of total group revenues of $16.5 billion. The group is targeting at least 40-45% of revenues to come from each of fast-growth markets and new media over the next five years.
Within WPP, its operating company WPP Digital develops new digital services, provides common data and technology platforms for WPP clients and agencies and coordinates relationships with leading digital media and technology companies.
WPP Digital comprises the agencies Blue State Digital, Possible, Rockfish, and F.biz in Brazil; the technology companies Acceleration, Hogarth and Salmon; as well as investments in technology companies such as eCommera, mySupermarket and Fullscreen.