Y&R Takes Stake in Turkish Social Media Agency

WPP-owned global marcoms network Y&R has acquired a majority stake in Turkish social media specialist Plasenta Conversation Agency, for an undisclosed sum.

Founded in 2011 by ad agency veteran Cem Batu (pictured), Istanbul-based Plasenta specialises in social media monitoring and management, as well as digital media projects for Turkish and international organisations. The agency employs more than 60 people and its unaudited revenues for the year ended 31st December 2012 were TRY 3.5 million.

WPP, which employ nearly 1,000 people in Turkey, said the Plasenta investment continues its strategy of developing its services in fast growing markets and sectors.

Web sites: www.wpp.com and www.plasenta.com.tr .