Y&R acquires majority stake in Plasenta Conversation Agency, a Turkish social media agency

wppWPP‘s wholly-owned operating company, Y&R, the global marketing communications network, has acquired a majority stake in Plasenta Conversation Agency, a social media agency based in Istanbul, Turkey. Terms of the deal were not disclosed.

Founded in 2011, Plasenta Conversation Agency specialises in social media monitoring and management and digital media projects for Turkish and international markets. The agency employs over 60 people and clients include Coca-Cola, Vodafone, and TEB BNP Paribas.

plasentaPlasenta Conversation Agency’s unaudited revenues for the year ended 31 December 2012 were TRY 3.5 million, with gross assets as at the same date of TRY 1.5 million. Unaudited revenues in the twelve months to September 2013 were TRY 7.3 million.

In Turkey itself, WPP companies (including associates) employ nearly 1,000 people, generating revenues of US$100 million. This is the fourth investment made by WPP in Turkey in the past two years.

UK, London & Turkey, Istanbul

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