WPP raises stake in TechEdge to 49% from 20%

Advertising agency WPP said on Wednesday that it has increased its stake in Denmark-based software supplier TechEdge to 49% from 20%.

TechEdge’s unaudited net sales for the year ended 31 December 2014 were around $13.6m, with gross assets at approximately $6.3m.

TechEdge licenses a range of software products to broadcasters and media companies, enabling users to analyse, interpret and action audience measurement data.

“This investment continues WPP's strategy of developing its services in fast-growing and important markets and sectors and strengthening its capabilities in digital media,” the company said.

At 14:20, WPP shares were down 0.8% at 1,451p.