WPP snaps up Quirk
WPP, an international advertising holding company has just acquired South African marketing agency, Quirk. The value of WPP’s acquisition of Quirk has not been disclosed. Reports puts WPP’s digital revenues in 2013 at more than US$6bn. On the decision to acquire Quirk, WPP says the decision is in line with their development strategy of improving services in fast-growing and important markets and sectors and strengthening their capabilities in digital media.
Quirk, a digital marketing agency, was started 15 years ago by Rob Stokes, the founding chairman of Silicone Cape; an initiative aimed at nurturing technology start-ups in the Western Cape.
Quirk has five agencies across the African continent and in London, including a new but growing presence in Kenya. The agency’s client list includes the likes of Distell, Capitec, retail giant Woolworths, Hollard, Makro, Unilever, Caltex and Tyco.
Quirk’s unaudited consolidated revenues for the year ended 28 February 2014 were about R140m, with gross assets at the same date of roughly R68m.