LONDON (ShareCast) - WPP, the highly acquisitive media and advertising giant led by frontman Sir Martin Sorrell, has said that its wholly-owned public relations and public affairs firm is acquiring the majority of the assets of Ascentum, a Canadian company.
Ascentum is full-service consultancy that works with government, business and not-for-profit clients to facilitate and create dialogue with stakeholders via online, in-person and social media-based strategies.
No further details of the agreement were given.
In a statement WPP said: "This acquisition continues WPP's strategy of investing in important markets and sectors and its commitment to developing its strategic networks and digital capabilities."
Collectively, WPP companies employ over 2,700 people in Canada, with revenues of around $450m.
The share price rose 0.53% to 856.50p by 15:51.