EDITORIAL: Finsbury deal will warm indie hearts

The relentlessly acquisitive WPP surprised no-one last week with

its widely trailed tie-up of a deal with Finsbury, the financial PR

success story of the last five years. As we have reported extensively, a

deal was on the cards from as early as the start of last year, when

agency founder Rupert Younger was widely rumoured to be keen to realise

the value he had created.

That WPP trumped at least six other named bidders is a coup for CEO Sir

Martin Sorrell, who, despite the pounds 50m-plus overall price tag for a

firm with just 50 staff, has yet to make a duff acquisition in his

stellar career.

For Finsbury itself, the deal will enable it to compete more effectively

on a global scale. Although the company has put the cat among the

competition pigeons with the launch of FIPRA, its European M&A lobbying

outfit, a further jolt was needed to expand the financial PR side

worldwide. WPP's cash and support network will mean a New York office

within a year and a possible Frankfurt opening in the same time


Finally, the deal will warm the hearts of those such as Angus Maitland

and Alan Parker who head successful independent City agencies. They

probably already knew the amount they could sell for but will,

nevertheless, be greatly cheered by the Finsbury deal.

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