FOR IMMEDIATE RELEASE |
2 May 2014 |
WPP PLC ("WPP")
GroupM agrees to take majority stake in mobile media agency aMVG (Aerodeon) in Turkey
WPP announces that GroupM, its wholly-owned global media investment management company, has agreed to take majority stake in aMVG (Aerodeon), the leading mobile media agency and mobile technology company in Turkey.
Founded in 2002, aMVG (Aerodeon) specialises in developing mobile media strategies and technologies for its clients. This includes mobile media buying and planning, mobile marketing campaigns, mobile loyalty platforms, mobile applications development, ad server technologies (mobile and video) and content distribution/digital services. The agency employs approximately 40 people and serves more than 300 clients including Avea, Dailymotion, Garanti Bank, Fiat, Finansbank, Fizy, Shell, Turkcell, Turk Telekom, Vodafone and Yapı Kredi Bank.
aMVG's unaudited revenues for the year ended 31 December 2013 were TRY8.9 million with gross assets of approximately TRY8.4 million as at the same date.
This investment continues WPP's strategy of developing its services in fast growing markets and sectors and strengthening its capabilities in digital media. Turkey is one of the Next 11 growth economies where WPP companies (including associates) generate revenues of over US$900 million and employs 10,000 people. In Turkey itself, WPP companies (including associates) generate revenues of over US$100 million and employ more than 1,000 people. This is the fourth investment made by WPP in Turkey in the past two years.
WPP's digital revenues (including associates) were over US$6.0 billion in 2013, representing almost 35% of the Group's total revenues of US$17.3 billion. WPP has set a target of 40-45% of revenue to be derived from digital in the next five years.
Contact:
Feona McEwan, WPP London |
Chris Wade, WPP London |
+ 44(0) 207 408 2204 |
