30th Jan 2014 09:08
LONDON (Alliance News) - Media buying giant WPP PLC Thursday said its Tenthavenue unit has bought a majority stake in a South African mobile activation and rewards company Jupicorp Proprietary Ltd.
It didn't give any financial details.
Jupicorp, which trades as The Mobile Airtime and Rewards Company, was founded in 2010 and employs eight people. It specialises in offering mobile airtime and lifestyle rewards to clients using in-house pin encryption technology.
Customers include Shoprite, South Africa's largest retailer, Nestle, Tiger Brands, Snackworks, SAB Miller and Danone, among others.
Its revenues for the year to February 2013 were ZAR60 million.
WPP shares were down 0.5% at 1,280 pence Thursday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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