25th Jun 2015 16:00
LONDON (Alliance News) - WPP PLC said Thursday said it has bought a majority stake in US-based advertising agency SET Management LLC, known as SET Creative, for an undisclosed sum.
SET Creative produced revenue of USD38 million in 2014, and had gross assets of around USD18 million at the end of 2014. It has clients including Bayerische Motoren Werke AG, Nike Inc and Uniqlo Co Ltd.
SET Creative's management, led by founder Sabina Teshler, will remain in place.
Shares in WPP closed down 0.1% at 1,482.66 pence Thursday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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