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WPP takes over Turkey's C-Section.

MANews-(C)2009-2013

28 February 2013 - Irish communications services major WPP Plc (LON:WPP) said Thursday that, via unit Y&R, it had bought a majority interest in Turkish creative digital advertising agency CS Reklam Hizmetleri Sanayi Ve Ticaret A, which does business as C-Section.

The value of the deal was not disclosed.

C-Section, which engages in the creation of microsites, apps, digital campaigns and video production/virals for the Turkish market, will retain its identity and will not be merged with Y&R Istanbul, WPP said.

The move is part of WPP's plan to develop its services in rapidly-expanding markets and sectors, such as the Next 11, which includes Turkey, the company said.

C-Section is headquartered in Istanbul and has a workforce of about 40. It generated unaudited revenue of TRY7.5m (USD4.2m/EUR3.2m) last year and had gross assets worth TRY3m as at end-December 2012.Country: TurkeySector: IT/Online Services, Advertising/PRTarget: CS Reklam Hizmetleri Sanayi Ve Ticaret A, dba C-SectionBuyer: Y&R, WPP PlcType: Corporate acquisitionStatus: Closed

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Publication:M & A Navigator
Date:Feb 28, 2013
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