MUMBAI: WPP has increased its stake from 20 per cent to 49 per cent in TechEdge, a supplier of software that enables the analysis of TV audience measurement (TAM) data.
TechEdge licenses a range of software products to broadcasters and media companies, enabling users to analyse, interpret and action respondent level TAM data. For example, broadcasters can review TV audience patterns, whilst media companies use TechEdge’s products to optimise advertising allocation by channel and time of day.
TechEdge was founded in Denmark in 2000 by Andreas Velter (CEO) and Henrik Sahlholt (CTO). MEC, which is a part of WPP’s Data Investment Management division GroupM, invested in the company in 2001.
TechEdge’s unaudited net sales for the year ended 31 December, 2014 were approximately $13.6 million, with gross assets at the same date of approximately $6.3 million.
This investment continues WPP's strategy of developing its services in fast-growing and important markets and sectors and strengthening its capabilities in digital media. WPP's digital revenues were $6.9 billion in 2014, representing 36 per cent of the Group's total revenues of $19 billion. WPP has set a target of 40-45 per cent of revenue to be derived from digital in the next five years.
