Ogilvy & Mather takes stake in Eightytwenty
Ogilvy & Mather, the marketing communications unit of global advertising giant WPP, has acquired a stake in Dublin-based digital agency Eightytwenty.
WPP did not reveal what size stake Ogilvy & Mather bought or the amount paid.
Prior to the stake sale, Eightytwenty was entirely owned by one of its directors, co-founder David Connor.
WPP said that Eightytwenty is the "market leader" in the Irish digital communications industry.
The Dublin-based firm employs more than 30 people across a number of disciplines.
Eightytwenty has worked on campaigns for brands, businesses and organisations such as Jameson, Bank of Ireland, the Immigrant Council of Ireland and Bulmers. Ogilvy & Mather has been working with Eightytwenty since 2015.
"This acquisition will bring new capabilities in creative, digital performance and technology to Ogilvy & Mather's local and international clients," said WPP.
Dublin-based PR firm Wilson Hartnell is also part of the Ogilvy & Mather division at WPP.
The latest and only set of publicly-available accounts for Eightytwenty, show that it had shareholder funds of almost €319,000 at the end of 2015.
WPP's digital revenues were more than $7bn (€6.6bn) in 2015, representing 37pc of total group revenue.
WPP has set a target of generating 40-45pc of revenue from digital in the next five years.