WPP invests $16 million in five companies

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WPP Group went on another shopping spree this week, spending $16 million on a group of investments. The holding company purchased stakes of under 10% in Metapack, a company that provides fufillment services to Internet retailers; Imagine, an Israeli-based communications software company; Red Sheriff, an audience measurement and market research outfit; and BigWords, an Internet site that targets college students in the U.S. WPP has also taken a 25% stake in Spydre Labs, an e-commerce investment company that focuses on Latin America. Board positions in these companies are expected to be filled by senior WPP.com executives from the group's direct, interactive, and information and consultancy disciplines.

Copyright June 2000, Crain Communications Inc.

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