WPP buys majority stake in German digital agency

WPP’s global digital agency POSSIBLE Worldwide has agreed to acquire a majority stake in Conrad Caine GmbH, a full service German digital agency, for an undisclosed sum.

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Conrad Caine, which is headquartered in Munich with offices in Brazil and Argentina, delivers digital strategy, user experience, asset creation, campaigns and CRM to its clients.

For the year to 31 December 2014, its revenues were about €8.5m with gross assets of approximately €3.6m.

The media agency said the acquisition continues its strategy of investing in fast growth markets, new media and digital, including data and the application of technology.

Germany is WPP’s fourth largest market after the US, the UK and China. It generates revenues of approximately $1.3bn there and employs around 7,000 people.