WPP acquires 90-per cent stake in Italy's H-art

WPP wholly owned global media investment management arm, GroupM is acquiring a 90-per cent stake in H-art Srl, a full service interactive agency in Italy.

Established in April 2005, H-art specialises in providing clients with a broad range of interactive media services – including mobile, tv and other channel applications – based on ebusiness strategy and state of the art technology.

H-art is based in Treviso, Italy and employs 35 people. H-art's key clients include Giorgio Armani, Barilla, Dainese, Diesel, Illycaffe, Nike and Telecom Italia.

H-art's revenues for the year ended 31 December 2007 were Euro 3.15 million with gross assets at the same date of Euro 1.87 million.

This investment continues WPP's strategy of investing in early stage companies in global markets and sectors and strengthening its capabilities in interactive media.