WPP subsidiary snaps up monitoring services business

10th Jun 2014 09:49

Advertising giant WPP's wholly-owned media research and analytics business, Kantar Media, has acquired a majority stake in the issued share capital of Precise Media Group, which provides monitoring and evaluation services.Precise, which employs 430 people servicing 2,500 customers, generated revenue of £28.9m in the year ended September 30th, with year-end gross assets of £34.4m. "This acquisition strengthens the global expertise of Kantar Media in delivering media reputation tracking and impact analysis for PR campaigns across the board, bridging mainstream and social media with highly innovative technology," the FTSE 100 listed group said. It also said the move would continue its strategy of developing its services in important markets and sectors and strengthening its capabilities in data investment management. The share price had risen 0.08% to 1,301p by 10:00.NR