FONT-SIZE Plus   Neg

Possible Worldwide To Buy Carnation Internet Tanácsadó Zrt In Hungary

WPP plc's (WPPGY, WPP.L) wholly-owned operating network Possible Worldwide has agreed to acquire digital agency Carnation Internet Tanácsadó Zrt in Hungary. Headquartered in Budapest, Carnation Internet is a full-service digital marketing services agency with additional offices in Serbia, Austria and Romania, servicing a variety of clients throughout the Central and Eastern Europe region, with major clients including Coca-Cola, MTV, Procter & Gamble, and Telenor.

Carnation's consolidated unaudited revenues for the year 2011 totaled HUF 1,341 million with gross assets of HUF 1,431 million at the same date.

WPP said this investment continues its strategy of developing its services in fast-growing and important markets and sectors and strengthening its digital capabilities in digital media. WPP's digital revenues currently total some $4.8 billion, representing over 30% of the Group's total revenues of over US$16 billion. WPP has set a target of 35% - 40% of revenue derived from digital in the next 5 years.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
comScore (SCOR), a global media measurement and analytics company, reported U.S. desktop retail e-commerce spending for the first 27 days of the November-December 2015 holiday season. For the holiday season-to-date, $23.4 billion has been spent online, marking a 5-percent increase versus the corresponding... Cricket Wireless Monday said it is adding to the Cyber Monday excitement by offering new and existing customers 50 percent off Samsung Galaxy S4, S5, and S6 today through December 3 with activation on a smartphone plan. The offer can be combined with the Black Friday offer where customers switching... Global watch maker, Swatch Group will be launching "pay by the wrist" watches early next year in partnership with Visa Inc.
comments powered by Disqus
Follow RTT