Global advertising firm, WPP, has announced that its operating company, Mediaedge:cia, has acquired a further 60% of the issued share capital of The Leverage Group Inc, pushing its stake up to 80%, with the group committing itself to purchase the remaining 20% at a later date.
The Leverage Group is an entertainment marketing and strategic partnership consulting firm that specialises in building strategic alliances and partnerships among brand marketers, entertainment/sports entities and non-profit organisations.
The deal will see clients including The Tribeca Film Festival, Berlex, Genworth Financial, Jones Apparel Group, Charming Shoppes and National Geographic, incorporated into the WPP fold.
WPP recently acquired 65% of the issued share capital of Sapphire Bright Limited, extending its reach into China. At the same time the global advertising firm also revealed that it had bought the outstanding 81% of the issued share capital of MediaCom North Limited, integrating it into its investment management network, MediaCom (see WPP Continues To Develop Networks).
All these investments continue WPP’s strategy of developing its networks in fast growing markets and sectors.
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