iNVEZZ.com, Monday, December 16: British advertising and marketing giant WPP Plc (LON:WPP) said in a statement today that Kantar Media, its data management business, had agreed to acquire the entire issued share capital of Fisheye Analytics for an undisclosed sum.
Fisheye is a Singapore-based monitoring and analytics company, which works with some of the biggest sports governing bodies, international organisations and governments from Europe to Asia. Fisheye, which made S$782,871 in revenue for the year ending October 31, 2013, is the latest in a string of WPP acquisitions aimed at developing its networks in fast-growth markets and sectors.
Last Monday, WPP announced that its marketing technology subsidiary, 24/7 Media, acquired semantic adverts provider Crystal Semantics - just one week after 24/7 Media merged with WPP's Xaxis. WPP said in a statement: “This investment continues WPP’s strategy of strengthening the Group’s capabilities in digital media and in mobile advertising.”
Just a day after purchasing Crystal Semantics, WPP acquired another social media marketing specialist. The advertising giant revealed that it had agreed to buy a majority stake in Asian social media marketing business Volcanic, via WPP's subsidiary GroupM. No financial terms were disclosed, but it was revealed that Volcanic had sales in the region of £2 million last year, and assets of around £1 million.
WPP share price gains on acquisitions
WPP’s stock price has advance today, having added 1.38 percent by 15:10 UTC. Since Thursday’s announcement of the Social Lab deal, however, shares in the FTSE 100-listed company have declined by 0.19 percent.
According to AnalystRatingsNetwork data, two research analysts have a ‘sell’ rating on WPP, six have it as a ‘hold’ and 22 call it a ‘buy’. The stock’s average rating is ‘buy’ with a consensus price target of 1,390.85p.
As of 15:10 UTC, buy WPP shares at 1,318.00p.
As of 15:10 UTC, sell WPP shares at 1,316.00p.
Prices can go up and down meaning you can get back less than you invest. This is not advice. Dealing services provided by Hargreaves Lansdown.