WPP PLC () has said that Grey, its global marketing communications agency unit, has bought a majority stake in French digital agency Extrême-Sensio as it focuses on growth in Europe in the wake of Brexit.
The FTSE 100-listed advertising group said in a statement that: “As a result of UK’s referendum decision to leave the European Union, WPP is placing an even greater emphasis on growth in Western Continental Europe, which includes Germany, France, Italy and Spain. This acquisition continues WPP’s strategy of investing in fast growth markets and important sectors.”
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Sensio is a full service digital agency that offers services including consulting, design, technology and customer acquisition. Headquartered in Paris, its clients include Groupe PSA, , E.Leclerc, Futuroscope, Häagen Dazs and Nexity.
Sensio’s revenues were about €7.7mln for the year ended 31 December 2016 with gross assets of approximately €5.7mln as at the same date. The company is listed as one of the “Growth Champions” by Les Echos / Statista, and features in the Financial Times’ “1000 Fastest Growing Companies”.
In France, WPP companies, including associates, generate revenues of US$700mln and employ around 4,500 people. WPP’s digital revenues were over US$7.5bn in 2016, representing 39% of the Group’s total revenues of US$19.4bn. WPP has set a target of 40-45% of revenue to be derived from digital in the next four to five years.