MAM
WPP buys minority stake in Istropolitana Slovakia
MUMBAI: Global advertising giant WPP‘s wholly-owned global marketing communications group Ogilvy & Mather has acquired a minority stake in Slovakian entity Communication Group, the holding company for the Istropolitana group of companies.
The acquisition reiterates WPP‘s intention to establish itself in the fast growing and developing markets.
Headquartered in Bratislava, Istropolitana was founded in 1992 and is a full service advertising agency employing close to 95 people and serving clients like Heineken, Slovak Telecom and VUB Banka.
Its consolidated unaudited revenues for the year ended 31 December 2011 were reported in the media at €4.509 million, with gross assets of €3.672 million.
Recently, another WPP wholly-owned subsidiary JWT acquired a majority stake Indian digital agency Hungama Digital Services, before which the KBM Group acquired France based Predictys. Earlier this year, Ogilvy & Mather acquired a stake in Myanmar-based advertising agency, Today Advertising.
