WPP acquires digital agency Twist Image in Canada
1 May, 2014
WPP, the world’s leading communications services group, announces that it has acquired Twist Image Multimedia Inc. (“Twist Image”), one of Canada’s leading creative digital marketing agencies.
Founded in 2000, Twist Image’s unaudited revenues as of December 31, 2013 were CAD $13.4 million with gross assets of almost CAD $6 million as of the same date. Headquartered in Montreal with an office in Toronto, the company employs 100 people. Clients include the TD Bank, Walmart Canada and Dairy Farmers of Canada, among others.
The acquisition further strengthens WPP’s position in Canada. “There is tremendous value in joining a parent company like WPP, where there is great focus on digital media and creativity,” said Mark Goodman, CEO of Twist Image. “We will now be in a position to offer our clients many more services and resources via our sister companies within the Group. Ultimately it’s all about delivering more value to our clients.”
The acquisition continues WPP’s strategy of developing services in important markets and sectors and strengthening its capabilities in digital media. WPP’s digital revenues (including associates) were over US$6.0 billion in 2013, representing almost 35% of the Group’s total revenues of US$17.3 billion. WPP has set a target of 40-45% of revenue to be derived from digital in the next five years. In Canada, the Group (including associates) generates revenue of around US $500 million and employs about 3,000 people.
Feona McEwan, WPP London | + 44(0) 207 408 2204
Kevin McCormack, WPP New York | +1 (212) 632 2239