WPP Takes 49 Percent Stake In South African Agency

In addition to investing $25 million in Seattle web analytics firm Omniture this week, WPP Group CEO Sir Martin Sorrell also took time out at the World Economic Forum in Davos to announce that the UK ad holding company has taken a 49 percent stake in The Jupiter Drawing Room. Unlike Omniture, which will be integrated throughout the WPP family, the South African ad agency group will retain its stand-alone status. The arrangement does leave open the possibility of opening The Jupiter Drawing Room as a micro-network, beyond Africa, in the future. Terms weren’t disclosed. The company said that it had revenues of $23.5 million (235.7 million South African Rand) at the end of last February; it didn’t provide more current figures. Release