Acquisition time for WPP ... again

16th Apr 2012 13:15

It will come of little surprise that global advertising giant WPP is giving its well-thumbed cheque book another bashing, this time with the acquisition of a minority interest in Dubai-based firm GME. GME is a consultancy services business that employs 16 people with clients that include Samsung and Heineken. Its revenues for the year ended December 31st were around 9.5m Arab Emirates dirham (£1.6m), with gross assets at the same date of AED 2.6m (£0.4m). "This acquisition continues WPP's strategy of investing in important sectors and its commitment to developing its businesses in the important and fast-growing Middle East markets," the firm said. NR