11th Jun 2014 06:47
LONDON (Alliance News) - Media buying giant WPP PLC Wednesday said its marketing communications agency JWT has bought a majority stake in South African creative agency The Hardy Boys, a further move to increase revenue from digital media.
It didn't give any financial details of the deal.
The Hardy Boys' revenues for the year ended February 28, 2014 were approximately ZAR55 million, it said. The South African agency's clients include Unilever, Diageo, SA Home Loans, ADvTECH and RCL Foods, amongst others.
WPP has set a target of deriving between 40% and 45% of revenue from digital in the next five years, up from 35% in 2013 when its digital revenue was over USD6 billion.
By Steve McGrath; [email protected]; @SteveMcGrath1
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