WPP agrees to buy Bottle Rocket

8th Nov 2013 10:44

British advertising and public relations giant WPP has agreed to buy Bottle Rocket, a maker of apps for mobile devices. Bottle Rocket, which creates iPhone, iPad and Android apps, has won multiple Apple Hall of Fame awards and frequently appear at the top of their categories in the App Store.The Texas-based company, founded in 2008, made unaudited revenue of $17m for the year to end of September. Their clients include NPR, Scripps Networks, ABC News, National Geographic and NBC Universal. "This investment continues WPP's strategy of strengthening the group's capabilities in digital media and in mobile advertising," WPP said in a statement.In August WPP Digital, the digital investment arm of WPP, acquired a minority interest in Mutual Mobile, an Austin-based mobile product development agency. WPP's digital revenues were over $5bn in 2012 and represented 33% of total group revenues of $16.5bn.The group is targeting at least 40-45% of revenues to come from each of fast-growth markets and new media over the next five years.Shares fell 1.10% to 1,353p at 11:00.RD