WPP Agrees To Acquire South Africa-based Digital Marketing Agency Quirk

(RTTNews) - UK-based advertising giant WPP Group PLC (WPP.L, WPPGY) said it has agreed to acquire Quirk, Africa's largest independently owned digital marketing agency. Its clients include Distell, Capitec Bank, Woolworths, Caltex and Tyco.

Founded in 1999 in South Africa, Quirk has built a strong reputation for helping clients adapt and win in a digitally-enabled world. With five agencies across Africa and London, the company employs 200 people. Quirk's unaudited consolidated revenues for the year ended February 28 were around ZAR 140 million, with gross assets of about ZAR 68 million. WPP said this investment continues its strategy of developing its services in fast-growing and important markets and sectors and strengthening its capabilities in digital media.