WPP takes minority stake in US-based Celtra Technologies

Advertising agency WPP has taken a minority stake in US-based digital advertising creative management platform Celtra Technologies.

Celtra - whose clients include Unilever, Kargo, Netflix and Opera Mediaworks - is based in Boston with offices in Slovenia, New York, London, San Francisco and Sydney. It was founded in 2009 and employs over 160 people.

The AdCreator platform it has developed and maintained allows for the creation, production, management and distribution of digital display ads, video and native advertising across multiple screens and devices by advertisers and agencies. Text and graphics can be updated and customised automatically without human intervention.

Since 2011, Celtra has acquired more than 400 clients across the digital media and advertising landscape. Its platform powers advertising for more than 3,500 brands from two-thirds of the Fortune Global 500.

WPP said the investment continues its strategy of focusing on three key areas that differentiate the group's offering to clients: technology, data and content. In 2016, the company's digital revenues were over $7.5bn, representing 39% if its total revenues. The company has set a target of 40% to 45% of revenue to be derived from digital in the next four to five years.

At 1555 BST, the shares were flat at 1,673p.