WPP acquires PerspectivesWPP Group plc ('WPP') announces that it has acquired Marketing Perspectives Limited ('Perspectives'), the UK marketing communications agency. This move advances WPP's stated strategy of expanding in the fast growing relationship marketing sector.
Over the past year, Perspectives has been rated as one of the UK’s five fastest-growing agencies in both direct marketing and sales promotion. Clients include American Express, Carlsberg-Tetley, Eurobell, Hewlett-Packard, Orange and Virgin Interactive.
Perspectives employs 70 staff and is based in West London. The company reported turnover of £9.5 million for the year ended 30 September 1998 and net assets of £1 million at that date.
Commenting on the initiative, John Zweig, CEO of WPP's Branding & Identity, Healthcare and Specialist Communications businesses, said, 'We were attracted to Perspectives because of its expertise across marketing disciplines, its track record of relationships with blue chip clients and its great team of people. Above all, it is an exceptionally well-managed business with a strong brand identity and a compelling vision for the future. We are delighted to have a company of such quality amongst the strong resource we have within WPP.'
For Perspectives, this move will provide the opportunity to develop an increased international presence and to take advantage of the resource available within WPP Group, in order to enhance its ability to service its clients and drive growth.
John Williams, Chairman and CEO of Perspectives commented: 'We have spoken to a number of prospective partners. In the end, WPP impressed us as by far the best choice for the business, for our clients and for our people. This is because they are dynamic, focused and a learning organisation. The resources within WPP Group are second to none and we are convinced that as a result, we will be able to provide our clients with an even better service. We look forward to taking full advantage of the opportunities this move presents.'
Perspectives will retain its distinctive brand identity and management structure and will join WPP's Branding & Identity, Healthcare and Specialist Communications division.