WPP's Possible Worldwide agrees to acquire Carnation (Hungary)

WPP announces that its wholly-owned operating network Possible Worldwide, the global interactive marketing agency, has agreed to acquire all of the shares in Carnation Internet Tanácsadó Zrt in Hungary (“Carnation”).

Founded in 1997 and headquartered in Budapest, Carnation is a full-service digital marketing services agency with additional offices in Serbia, Austria and Romania, servicing a variety of clients throughout the Central and Eastern Europe region. The agency employs more than 75 people and major clients include Coca-Cola, MTV, Procter & Gamble, and Telenor.

Carnation’s consolidated unaudited revenues for the year ended 31 December 2011 were HUF 1,341 million with gross assets of HUF 1,431 million at the same date.

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