WPP buys majority stake in branding and design agency Made Thought

(Alliance News) - WPP PLC announced on Monday it has bought a majority stake in Made Thought, a ...

Alliance News 6 December, 2021 | 8:45AM
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(Alliance News) - WPP PLC announced on Monday it has bought a majority stake in Made Thought, a branding and design agency.

The London-based advertising company said it acquired the stake as part of its "accelerated growth strategy" and will integrate Made Thought in its digital design and communication agency, AKQA. Made Thought is London-based with an office in New York.

WPP did not disclose any financial details of the deal.

Made Thought will join with Universal Design Studio and Map Project Office to form The New Standard, which WPP described as an "industry-leading collective" that will enable each studio to maintain creative independence while also allowing for greater collaboration.

Founded in 2000, Made Thought cserves clients such as Pinterest Inc, Unilever PLC and Sonos Inc.

Chief Executive Mark Read said: "WPP is known for its creative excellence and our award-winning work that helps drive transformative growth for our clients. Bringing Made Thought together with Universal Design Studio and Map Project Office to create The New Standard will further strengthen our position as a creative leader and raise the bar for design that speaks to people across different platforms."

Shares in WPP PLC were up 0.3% at 1,068.31 pence on Monday morning in London.

By Heather Rydings; heatherrydings@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
WPP PLC 1,157.50 GBX 2.07

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