JWT acquires minority stake in Turkey’s Wanda Digital

JWT acquires minority stake in Turkey’s Wanda Digital

MUMBAI: J. Walter Thompson Company has acquired a minority stake in Turkish digital agency Wanda Digital.

 

Founded in 2006 and employing 80 people in Istanbul, Wanda's clients include Turkcell, L'Oreal, Nestle and Unilever.

 

Wanda offers a range of services including campaigns, social media, platform development and games and apps.

 

The agency’s unaudited net sales for the year ended 31 December, 2014 were approximately $ 3.4 million, with gross assets at the same date of approximately $ 2.3 million.

 

Following the transaction, Wanda and J. Walter Thompson's local office, Manajans J Walter Thompson Turkey, will operate independently, but jointly invest in new technology and innovative projects.

 

Since 2010, Manajans J. Walter Thompson Turkey has tripled its revenues and won over 40 awards including the "Global Smarties" in 2014.

 

Turkey is one of the Next 11 growth economies where WPP companies (including associates) generate revenues of over $1 billion and employ over 10,000 people. In Turkey itself, WPP companies (including associates) generate revenues of around $120 million and employ approximately 1,300 people.