WPP PLC (WPP) - Acquisition
RNS Number : 0812Q
01 November 2012
FOR IMMEDIATE RELEASE 05 November 2012
WPP PLC ("WPP")
GroupM agrees to acquire a majority stake in Netbooster Asia, a leading
digital marketing agency in the Philippines and Indonesia
WPP announces that its wholly owned operating company, GroupM, WPP's global
media investment management arm, has agreed to acquire a majority stake in NB
Agency Asia Holding Limited ("Netbooster Asia"), the Hong Kong holding company
of digital marketing agencies in the Philippines and Indonesia, subject to
Founded in 2007 and based in Manila and Jakarta, Netbooster Asia is a digital
marketing agency offering media, production and creative services. The agency
employs around 110 people and clients include Unilever, L'Oreal, Del Monte,
Globe, BDO, Wyeth and Intel. This acquisition will see Netbooster rebrand in
the Philippines as Movent. In Indonesia, the agency will be consolidated into
GroupM's digital offering.
Netbooster Asia's unaudited revenues for the year ended 31 December 2011 were
approximately US$2.4 million, with gross assets at the same date of
approximately US$2.4 million.
This investment will be a further step towards WPP's declared goal of
developing its businesses in the fast growing economies of Asia Pacific, as
well as Latin America, Africa and the Middle East, Central and Eastern Europe.
Collectively, the Group, including associates, employs more than 46,000 people
in the Asia Pacific region, generating revenues of $4.7 billion. In the
Philippines, the Group, including associates, employs approximately 1,000
people with revenues of over $70 million. In Indonesia, the Group, including
associates, employs 1,300 people with revenues of over $80 million.
Feona McEwan, WPP
+44 (0)207 408 2204
This information is provided by RNS
The company news service from the London Stock Exchange
ACQUGGAAGUPPUBG -0- Nov/01/2012 10:22 GMT
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