WPP buys stake in Ireland's Eightytwenty

WPP’s marketing communications network, Ogilvy & Mather, has acquired a stake in its digital partner in Ireland, Eightytwenty.

Dublin-based Eightytwenty employs over 30 people and has developed a bespoke model that combines creative, data, performance media and technology to design and deliver campaign narratives across the entire customer journey.

The two groups have been have been working together since 2015 and Ogilvy said the deal will bring new capabilities in creative, digital performance and technology to its local and international clients.

WPP's digital revenues were more than $7bn in 2015, representing 37% of total group revenues of $19bn.

WPP has set a target of 40-45% of revenue to be derived from digital in the next five years. In Ireland, WPP companies including associates generate revenues of nearly $75m and employ over 500 people.

At 1018 GMT the shares were down 0.6% to 1,889.50p.