WPP buys majority stake in Middle East marketer Cleartag

Media behemoth WPP’s global market communications agency, J. Walter Thompson has agreed to acquire a majority stake in Lebanon and UAE-based digital marketing consultancy Cleartag.

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Cleartag offers a range of digital consulting, user experience, advertising and campaign services and employs around 65 people in Beirut and Dubai.

For the year ended 31 December 2014, unaudited revenues were $3.6m with gross assets of around $1.5m.

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

At 0926 GMT, WPP shares were down 0.4% to 1,514p.