J. Walter Thompson Acquires Majority Stake in Cleartag
WPP announces that J. Walter Thompson Company, the global marketing communications agency, has agreed to acquire a majority stake in Cleartag, a Beirut-based independent full service digital marketing consultancy, which also operates in the UAE and employs around 65 people.
Established in 2000 by current CEO and co-founder Tarek Dajani, Cleartag offers a broad range of digital consulting, user experience, advertising and campaign services.
Cleartag’s unaudited revenues for the year ended 31 December 2014 were US$3.6 million with gross assets of approximately US$1.5 million as at the same date. Clients include Bank Audi, ABC shopping mall, touch – the leading mobile operator in Lebanon, Dubai Tourism & Commerce Marketing, Dubai Expo 2020, and du - the Emirates integrated telecommunications company. High profile projects include Novo for Bank Audi; an offsite interactive branch that allows customers to interact with their bank faster, better and at more convenient locations and times. The digital agency will continue to trade as Cleartag.
The deal strengthens J. Walter Thompson’s digital offering in the fastgrowing MENA hub, which includes Heathwallace operations in the UAE and Saudi Arabia, and further augments the agency’s capabilities across cutting-edge technologies, design and content.
Also, this investment continues WPP'S strategy of developing its services in important markets and sectors and strengthening its capabilities in digital media. WPP digital revenues (including associates) were US$6.9 billion in 2014, representing 36% of the Group's total revenues of US$19 billion. WPP has set a target of 40-45% of revenue to be derived from digital in the next five years.
In the Middle East, the Group (including associates) generates revenues of around US$400 million and employs over 3,000 people.
J. Walter Thompson MENA Chairman Roy Haddad & Cleartag CEO Tarek Dajani