WPP takes control of Italian digital agency
LONDON - WPP has purchased a 90% stake in the Italian digital agency H-art as it seeks to increase its investment in early stage companies.
The agency, part of H-farm, employs 35 people and counts Giorgio Armani, Barilla, Dainese, Diesel, Illycaffe, Nike and Telecom Italia as clients. It specialises in mobile among other interactive disciplines.
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The agency's revenues for the year ended 2007 were £2.75m with its gross assets valued at around £1.63m.
The acquisition follows Italian car maker Fiat's decision to realign its £150m European media business into WPP-owned agencies. The move comes four years after WPP took a 49% stake in the in-house Fiat Media Centre in Italy.
WPP: purchases 90% stake in Italian digital agency H-art
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