WPP Acquires Majority Stake in Hong Kong-Based Digital Consultancy

By Adam ClarkFeaturesDow Jones Newswires

WPP PLC (WPP.LN) said Monday that it acquired a majority stake in Hong Kong-based digital design and software-engineering consultancy ARBA for an undisclosed price.

The advertising and PR company said the acquisition has been made by its communications subsidiary Ogilvy & Mather, increasing WPP's capabilities in digital strategy.

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For ARBA's financial year ended March 2017, revenue was 17.3 million Hong Kong dollars ($2.2 million), with net assets of HKD5.8 million, said WPP.

WPP shares are down 7 pence, or 0.5%, at 1382 pence at 0908 GMT.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

December 18, 2017 04:34 ET (09:34 GMT)