Wired News – Global Advertising and Public Relations Giant WPP Acquires Portuguese Creative Agency Bomtempo, Anahory & Ralha
LONDON, UK / ACCESSWIRE / January 12, 2018 /Active-Investors.com has just released a free research report on WPP PLC (NYSE: WPP). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=WPP as the Company's latest news hit the wire. On January 10, 2018, the Company announced that it has acquired Bomtempo, Anahory & Ralha – Serviços Criativos, S.A. (BAR), a Portugal based leading independent creative agency. The financial details of the transaction have not been disclosed. The decision was taken in the wake of UK's referendum decision to leave the European Union as the Company plans to focus on business growth in Western Continental Europe. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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The Company plans to merge the operations of BAR with the operations of Ogilvy & Mather Portugal. The combined Company will be renamed BAR Ogilvy and continue its operations under the new name. The operations of BAR Ogilvy will be managed by founders of BAR - Jose Bomtempo, Diogo Anahory, and Miguel Ralha.
Lisbon, Portugal-based BAR was founded in 2009 and is an integrated and independent creative agency with a stellar reputation. Some of its leading clients include Sagres beer (a leading local beer brand in Portugal), Millennium BCP (a leading private Portuguese bank), CUF (a Portuguese chemical corporation and part of a family-run business conglomerate), Nowo (leading telecom brand in Portugal), TAP (Airline of Portugal), and Nespresso (B2B and B2C Coffee Company of Nestlé). For FY16, the Company's consolidated unaudited revenues were €2.5 million, and it had gross assets of €2.4 million.
Rationale behind the acquisition
Following the UK's referendum decision to leave the European Union, WPP is concentrating on increasing its business in Western Continental Europe which includes four of the Group's top markets worldwide: Germany, France, Italy, and Spain. The acquisition of BAR is in line with WPP's strategy of investing in growth oriented and high margin markets and sectors. WPP already has extensive presence in Portugal and is an important part of the Group's business. WPP Companies (including associates) in Portugal have a combined revenue of approximately $60 million and has an employee strength of around 1,000 people.
About WPP PLC
London, UK-based WPP was founded in 1985 and is the world's largest communications services group. Through its operating Companies, the Group provides a comprehensive range of advertising and marketing services including advertising & media investment management, data investment management, public relations & public affairs, branding & identity, healthcare communications, digital, ecommerce and shopper marketing and specialist communications.
WPP has a global presence with over 3,000 offices across 112 countries. The Company is supported by a global team of over 200,000 people (including associates and investments). The Group has an annual billing of over $74 billion and revenues of over $19 billion. Some of the leading group companies include APP, Brand Union, Burson - Marsteller, Cohn & Wolfe, GroupM, H&O, J. Walter Thompson, KantarTNS, MediaCom, Mindshare, Ogilvy & Mather, Wavemaker, Wunderman, Xaxis, Y&R, etc.
WPP was named Holding Company of the Year at the 2017 Cannes Lions International Festival of Creativity for the seventh year running. WPP was also named, for the sixth consecutive year, the World's Most Effective Holding Company in the 2017 Effie Effectiveness Index, which recognizes the effectiveness of marketing communications. In 2017, WPP was recognized by Warc 100 as the World's Top Holding Company (third year running).
Stock Performance Snapshot
January 11, 2018 - At Thursday's closing bell, WPP PLC's stock was slightly up 0.56%, ending the trading session at $90.07.
Volume traded for the day: 178.74 thousand shares.
After yesterday's close, WPP PLC's market cap was at $22.43 billion.
Price to Earnings (P/E) ratio was at 9.78.
The stock has a dividend yield of 4.27%.
The stock is part of the Consumer Goods sector, categorized under the Paper & Paper Products industry. This sector was up 0.5% at the end of the session.
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