WPP buys digital transformation agency The Cocktail

WPP's global digital agency Wunderman has acquired digital transformation consultancy, The Cocktail, in Spain.

Founded in 2003 in Madrid, The Cocktail provides sophisticated digital transformation services through an integrated approach to strategy development, design, technology and data and analytics to deliver concrete business value to brands. For the year to the end of December 2016, the company's unaudited revenues were €16.4m and gross assets stood at €14m.

WPP said the deal "strengthens Wunderman's ability to deliver marketing and technology consulting services in Europe and Latin America, while specifically strengthening the agency's offering in Spain".

The Cocktail has offices in Mexico and Colombia and employs more than 250 people.

At 0855 BST, WPP shares were down 0.4% to 1,747p.