WPP Makes Three Acquisitions
Global marketing and communications group, WPP, has made three small but key acquisitions this week, helping to build its marketing services businesses.
WPP has also acquired icon, a brand management group based in Nuremberg, Germany. icon will fit into WPP’s branding and identity businesses. The third deal sees the group’s Hill & Knowlton PR firm take control of The ProMarc Agency, a US technology PR specialist.
These acquisitions see WPP taking advantage of cheap prices as the market show signs of a downturn. Martin Sorrell, CEO of WPP, told MediaGuardian last week that the recent fall in share price in the advertising and marketing sectors offered ‘opportunities’ for his group.
At midday today WPP stock was falling fast, down 42½p at 707p, following the Glendinning deal.
