WPP buys majority stake in France's Sensio

Advertising giant WPP has bought a majority stake in French digital agency Sensio through its wholly-owned marketing communications agency, Grey.

Sensio is a full service digital agency that offers services including consulting, design, technology and customer acquisition. Founded in 1998 and based in Paris, it employs around 75 people and its clients include Groupe PSA, AXA, E.Leclerc, Futuroscope, Häagen Dazs and Nexity.

In the year to 31 December 2016, Sensio generated revenues of around €7.7m and had gross assets of approximately €5.7m.

WPP said that as a result of the Brexit vote, it is now placing an even greater emphasis on growth in Western Continental Europe, which includes Germany, France, Italy and Spain.

"This acquisition continues WPP's strategy of investing in fast growth markets and important sectors," it said.

In France, WPP companies including associates generate revenues of $700m and employ around 4,500 people. WPP's digital revenues were over $7.5bn in 2016, representing 39% of the group's total revenues of $19.4bn.

At 1005 BST, the shares were up 1.9% to 1,579p.