WPP already owns 20% of the company, acquired by its direct and interactive marketing network OgilvyOne Worldwide, and says it will acquire the remaining stock in the company.
WPP has made an offer of €6.80 a share, representing a considerable premium on Concept's closing price last night of €4.70. The offer, which is subject to approval by the German Federal Cartel Office, values Concept at about £52m.
The offer continues WPP's objective of developing its new-media investments through strengthening its established businesses.
Concept floated in early 2000 with a share price of €49, valuing the company then, at the height of the dotcom boom, at £387m and valuing Ogilvy's stake at the time at £68.7m. Concept's shares at one stage were trading as high as €66, which valued the company at £521.8m.
Concept was founded in 1991 and has offices in D眉sseldorf, Miami, Madrid and Stuttgart.
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