Possible Worldwide, a WPP Digital global interactive marketing agency, announce the aquisition of Carnation Group, company that also has activities on Romanian market.
The deal boosts Possible Worldwide’s global footprint, adding new offices in Budapest, Vienna and Bucharest along with approximately 100 agency professionals. Founded in 1997 and headquartered in Budapest, Carnation is a full-service digital marketing services agency with additional offices in Serbia, Austria and Romania, servicing a variety of clients throughout the Central and Eastern Europe region. The agency employs more than 75 people and major clients include Air France/KLM, CocaCola, Intel, Procter & Gamble, Telenor, Tesco and regional companies such as Chello Media, Delaco and MOL
Krisztian Toth, CEO and Chief Creative Officer CarnationGroup, will continue as the CEO/CCO of the firm, which will operate as a standalone brand under the Possible Worldwide banner.
CarnationGroup has a phenomenal track record of not only exciting and jaw-dropping work, but measurable business results. We’ve seen how well their work resonates with the young and fast-growing Central and Eastern European marketplaces (…) The acquisition gives us one of the largest presences in Central Europe of any global, digital agency along with some of the region’s most respected and dynamic advertising minds. It’s a great addition for Possible and for our clients.
CEO of Possible Worldwide.
Carnation’s consolidated unaudited revenues for the year ended 31 December 2011 were HUF 1,341 million with gross assets of HUF 1,431 million at the same date. Since launching in 1997, CarnationGroup has received over 100 national and international awards for its work with recent highlights including the Webit CEE Creative Agency of the Year, Deloitte CE Technology Fast 50, numerous Effies, several Webbies, an FWA and a recent shortlist nomination for the Guardian Awards for Digital Innovation.
With the addition of CarnationGroup, Possible Worldwide grows to 26 offices across 13 countries in North America, Europe the Middle East and Africa and Asia. Total headcount following the deal will be approximately 1,300 professionals.
This investment continues WPP’s strategy of developing its services in fast-growing and important markets and sectors and strengthening its digital capabilities in digital media. WPP’s digital revenues currently total around US$4.8 billion, representing over 30% of the Group’s total revenues of over US$16 billion. WPP has set a target of 35-40% of revenue derived from digital in the next five years.
WPP companies, including associates, employ almost 6,000 people across the CEE markets with revenues of approximately US $600 million, underlining its leading position in the marketing services sector in this important region.