WPP buys majority stake in London-based digital agency Potato
Media agency WPP has acquired a majority stake in the holding company of digital agency Potato through its digital services agency, AKQA.
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London-based Potato, whose clients include Google and Canon, specialises in designing and building complex, secure and scalable web applications.
For the year ended 31 March 2015, the company’s revenues were £6.9m, with gross assets of £4.1m.
WPP said the acquisition continues its “strategy of investing in fast growth sectors such as digital and content”.
WPP digital revenues were over $7bn in 2015, representing over 37% of the group's total revenues.
Potato has an office in Bristol and a presence in San Francisco, and employs around 100 people.
At 1008 GMT, WPP shares were up 1.3% to 1,551p.