• by Steve McClellan , October 4, 2011

WPP ad shop Ogilvy & Mather has agreed to acquire a majority stake in Promo Digital LLC in Russia (Promo), subject to regulatory approvals.

Founded in 1997 and based in Moscow, Promo is a digital marketing services agency which specializes in creating internet, mobile and multimedia campaigns for a variety of clients in Russia. The agency employs 53 people and major clients include Gazprom, LG and MTS.

Promo's unaudited revenues for the year ended 31 December 2010 were $2.6 million, WPP said. The price of the acquisition was not disclosed.

WPP said the deal reflects the holding company's strategy of investing in "important sectors and markets by further strengthening its capabilities in the digital marketing sector and developing its business in the fast growing Russian market."

WPP already employs almost 2,000 people in Russia, with revenues that have more than doubled in the last five years to over $200 million.