WPP’s Sir Martin Sorrell shows no sign of losing his appetite for digital acquisitions even after shelling out $540m for digital giant AKQA.
The company has just completed a deal to buy a majority stake in the UK digital agency Fortune Cookie, a relative veteran of the digital wave having been set up in 1997 by current managing director Justin Cook (pictured), currently head of the British Interactive Media Association (BIMA).
Fortune Cookie has revenues of about £9.5m with offices in the UK, US, Australia and Poland. It employs about 190 people and its clients include Canon, Aegon, Netjets, BP and Legal & General. It will become part of WPP’s Possible Worldwide network, a collection of smallish digital agencies that WPP has acquired in a bid to make digital account for about 40 per cent of its global revenues of $16bn (£10.3bn).
Possible’s agencies include Quasar in India, Schematic and Bridge in the US and Blue Interactive in Singapore. So it looks as though Fortune Cookie is slated to be the network’s UK flagship.