WPP acquires UK digital agency HeathWallace - Brand Republic News - Brand Republic

WPP acquires UK digital agency HeathWallace - Brand Republic News - Brand Republic: "WPP acquires UK digital agency HeathWallace

by Staff Brand Republic 14-Feb-08, 11:20

LONDON - WPP Group has bought a majority stake in six-year-old UK digital agency HeathWallace for an undisclosed sum.

The agency, which is based in Reading with offices in Hong Kong, is ranked at 81 in the UK's top 100 digital agencies.

The acquisition of a 75% stake was made by WPP Digital, the digital investment arm of WPP.

Founded in 2001, HeathWallace has around 60 staff and includes HSBC, RBS, ABN Amro and AIB among its clients.

HeathWallace's unaudited revenues for the year to December 31 were £4.3m with gross assets of £3.1m.

It is the second acquisition that WPP has announced this week. Earlier, it acquired a stake in NuConomy, a web analytics company based in Silicon Valley and Israel.

The investment continue WPP's strategy of developing its networks in fast growing sectors and markets and strengthening its capabilities in digital media."