WPP Unit GroupM Acquires Netherlands-based Greenhouse Group - Quick Facts

(RTTNews) - UK-based advertising giant WPP Group plc (WPP.L, WPPGY) announced Wednesday its wholly-owned operating company GroupM has acquired Netherlands-based Greenhouse Group.

Greenhouse Group provides digital media and marketing services through its four operating companies: Blue Mango Interactive, Fresh Fruit Digital, We Are Blossom, and Source Republic. It generated unaudited revenues of 10.1 million euros for the year ended December 31, 2014, with gross assets of 14.1 million euros as at the same date.

The deal will further enhance GroupM's data-driven digital marketing capabilities. Greenhouse Group will operate as a stand-alone business within GroupM and will continue to be led by CEO Marion Koopman and CFO Frank Sanders.

The deal is part of WPP's strategy of developing its services in fast-growing and important markets and sectors and strengthening its digital capabilities.

WPP's digital revenues were $6.9 billion in 2014, representing 36 percent of the Group's total revenues of $19 billion. It has set a target of 40 to 45 percent of revenue to be derived from digital in the next five years.

WPP companies (including associates) in The Netherlands generate revenues of around $300 million.