JWT Agrees to Acquire Creative Digital Agency Lemon Sky in Poland
NEW YORK & LONDON -- February 25, 2014
WPP - (NASDAQ:WPPGY) announces that its wholly owned operating company JWT,
the global marketing communications agency, has agreed to acquire Lemon Sky, a
leading creative digital marketing company in Poland.
Founded in 2000 and employing around 70 people in Warsaw and Wroclaw, the
agency specialises in producing a broad range of digital advertising and
campaign services. Clients include Nestle, Orange, Tesco and Leroy Merlin.
Lemon Sky’s unaudited revenues for the year ended December 31, 2013 were EUR
2.7 million with gross assets of approximately EUR 2.4 million as at the same
date. Following the deal, Lemon Sky will join JWT Warsaw to create one truly
integrated communications agency for Poland.
This investment continues WPP's strategy of developing its services in
important markets and sectors and strengthening its capabilities in digital
media. WPP digital revenues (including associates) were well over US$5 billion
in 2012, representing 33% of the Group's total revenues of US$16.5 billion.
WPP has set a target of 40-45% of revenue to be derived from digital in the
next five years.
In Poland, the Group (including associates) generates revenues of around
US$150 million and employs over 1,000 people. Across the Central and Eastern
European markets collectively, WPP companies (including associates) generate
revenues of around US$700 million and employ over 6,000 people, underlining
its leadership in this important region.
Feona McEwan, + 44(0) 207 408 2204
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