WPP’s J. Walter Thompson, has agreed to acquire a majority stake in WANDA Digital, an independent digital agency in Turkey. This transaction follows an initial investment made in the agency last year. Terms weren’t disclosed.
It’s the second purchase of a digital agency this week by JWT. Earlier, it agreed to purchase Washington DC-based iStrategy Labs.
Commenting on the acquisition, WPP CEO Martin Sorrell stated: “This further investment reflects WPP’s continuing commitment to Turkey and our confidence in the future prospects of this important economy.”
Founded in 2006
and employing around 80 people in Istanbul, WANDA's clients include Media Markt, Nestle, Turkcell, Ülker and Unilever.
WANDA’s offering includes campaigns, social media, platform development and games and apps.
WPP has designated Turkey as one of the “Next 11” growth economies where WPP companies collectively generate revenues of over $1 billion and employ around 12,000 people. In Turkey itself, WPP generates revenues of around $140 million and employs about 1,500 people.