WPP Back in Acquisition Mode

WPP is once again considering acquisitions, in 'faster growing segments such as technology and commerce', according to CEO Mark Read in a call with investors on Thursday.

The global group agreed in July to sell 60% of its data, research, consulting and analytics business Kantar to private equity firm Bain Capital, in a deal which values the whole of Kantar at around £3.2bn ($4.0bn). Soon after the insights division signified its own interest in using Bain's backing to make possible eCommerce acquisitions.

Read (pictured) said in a meeting on Thursday: 'Now we have the Kantar situation nearly behind us, we can start to think more tactically - not go crazy - about how acquisitions can add to what we are doing in those areas'. He added: 'We have the ability to grow organically, there's also the opportunity to invest and acquire attractive businesses to reposition the portfolio'.

Last month the group reported its first like-for-like revenue increase of the year, for the third quarter.

Web sites: www.wpp.com and www.kantar.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.