WPP Announces Acquisition Of Majority Stake In Vinyl I-Co, Seoul - Quick Facts

(RTTNews) - WPP PLC (WPP.L, WPPGY) announced that its wholly owned company Grey Group, the global communications network, has acquired a majority stake in Vinyl I-Co. Ltd., a creative digital agency based in Seoul, South Korea. Vinyl-I clients include GS Shop, Intel, L'Oreal, Lotte, Microsoft, Naver, Nike, Samsung, SK Telecom, and SM Entertainment.

WPP plc said the acquisition marks a further step towards the Group's declared goal of developing its networks in fast growing markets and sectors and strengthening its digital capabilities. WPP has set a target of 40-45% of revenues to be derived from digital in the next five years.