There has been a lot of talking about the growth of Turkish internet industry at DLD 12 and we heard from many major players of the sector that the market will get more investment, but we did think we would receive news this fast. Majority stake of 41? 29!, digital media agency which attended in Digital Bosphorus session, were acquired by WPP.
WPP stepped into marketing in 1986 and it is one of the leading marketing communications companies today. WPP has offices in 9 countries including China and India, and with this recent development, it now has an Office in Istanbul
41? 29! was founded by Alemşah Öztürk, Bora Akman and Ömer Ersoy, and the agency caught attention with particularly digital media campaigns. Arda Kutsal got the news confirmed by Alemşah Öztürk at DLD, and soon it was announced on WPP’s website.
The announcement mentions that 41? 29! has gross assets worth 2.4 m TRY (1.3 m USD) and unaudited revenues of 5 m TRY (2.8 million USD) by 31 December 2011. The press release also says WPP has nearly 1000 employees in its partners in Turkey and a revenue of 100 million dollars was realized.
Financial details have not been disclosed yet, but we will update the story and inform you on further details.
41? 29! has official press release;
WPP acquires Turkish independent digital agency 41?29! Media
WPP has announced that it has agreed to acquire a majority stake in 41?29! Media Internet (41?29!), an Istanbul-based independent digital communications agency.
Founded by Alemşah Öztürk, Bora Akman and Ömer Ersoy in 2007, the agency provides digital communications services to various industries The agency employs 48 people and offers services to clients such as Diageo, Garanti Bank, Kraft, Microsoft, Nokia, Renault, Ulker and Unilever.
This investment adds to WPP’s strategy of developing its services in fast-growing and important markets and sectors and strengthening its capabilities in digital media. Consensus analysts’ forecast for 2011 shows that WPP’s digital revenues will total over 4.5bn USD, representing almost 30% of its projected 16bn USD revenue.
WPP’s target of revenue derived from digital in the next five years is currently set at 35-40WPP added that its companies and associates in Turkey employ nearly 1,000 people and generate revenues of 100m USD.
Original Post: 41? 29!’un çoğunluk hissesi satıldı [Son Dakika]