Mediaedge:cia acquire Sponsorcom
20 April, 2004
WPP announces that its wholly-owned operating company, Mediaedge:cia, the global media communications group, has acquired 75% of the issued share capital of SponsorCom GmbH ("SponsorCom") a leading sponsorship consultancy, and entered into put and call options over the remaining 25%.
Based in Dusseldorf and Stuttgart, SponsorCom employs 35 people and had revenues of EURO3.79m and net assets of EURO1.34m for the year ended 30 September 2003. SponsorCom's clients include E-ON and TUI Travel.
The acquisition of SponsorCom broadens Mediaedge:cia's sponsorship capabilities and continues WPP's strategy of strengthening its networks in important growth sectors and markets.