Schematic Acquired By WPP

Los Angeles-based interactive design agency Schematic has been acquired by WPP, WPP said this morning. Financial terms were not disclosed. WPP Digital said that it has acquired Schematic as a part of its strategy to develop its networks; it reported that Schematic had revenues of $29.6M for the year ended March 31, 2007. Schematic employs 255 people in Los Angeles, New York, Boston, Atlanta and San Jose, Costa Rica.