WPP acquires stake in Czech digital agency

by Darren Davidson, Brand Republic 14-Jul-08, 10:10

LONDON - WPP has acquired a majority stake in Advertures, a leading online marketing agency in the Czech Republic, through Oglivy.

The seven year old agency is based in Prague and employs 28 people -- its clients include the Czech Ministry of Foreign Affairs, Clickforsky, Nokia, Sun Microsystems and EMC.

Advertures's unaudited revenues for the year ended December 31 2007 were €1.5m (£1.2m), with gross assets at the same date of €1m.

The stake is the latest in a series of overseas investments for WPP as chief executive Sir Martin Sorrell continues to pursue a policy of developing networks in emerging growing markets.

Last month, Enfatico, the full service agency set up by WPP to service Dell, acquired a majority stake in AdPeople, a Danish company that provides print marketing support to Dell, for an undisclosed sum.

Closer to WPP's London-based headquarters, the group last week made a hostile takeover bid for market research firm TNS, tabling an offer of £1.08bn.

GfK, which is currently planning a merger with TNS, is now preparing a counter-bid with German billionaire Gunter Herz to buy the company outright.