WPP Acquires Remaining Shares of Three Colombian Agencies
Grey, G2 and MediaCom increase stakes to wholly owned status
LONDON -- January 9, 2013
WPP (NASDAQ:WPPGY) announces that its wholly owned companies Grey, G2
Worldwide and MediaCom have acquired the outstanding shares in three leading
agencies in Bogota, Colombia.
Grey, the global advertising agency network, has acquired the remaining shares
in REP/Grey, one of Colombia’s best-regarded advertising agencies. G2
Worldwide, the digital and relationship marketing company, has acquired the
remaining shares in REP/G2. MediaCom, the media investment management company
that is part of GroupM, has acquired the remaining shares in Massive, a media
agency in Colombia.
These three investments further strengthen WPP’s leadership position and
commitment to the Colombian communications services industry. Other WPP
companies active in Colombia (including affiliates) are JWT, Ogilvy, Young &
Rubicam, Wunderman, OgilvyOne, Burson-Marsteller, Live, Energy, TNS, Kantar
Worldpanel, Millward Brown and IBOPE. Collectively (including associates), the
Group will have revenues of approximately US $110 million and will employ
nearly 1,700 people in Colombia.
These transactions continue WPP's strategy of investing in fast growing
geographic markets, which currently represent one-third of US$16 billion
revenues in 2011, with an objective to reach 35-40% over the next five years
and reflects its commitment to developing its strategic networks throughout
Latin America. WPP regards this decade as very much the decade of Latin
America, particularly with the FIFA World Cup taking place in Brazil in 2014
and the Olympics in Rio in 2016.
In the past month, WPP also announced that it had invested approximately US$
70 million to take a 20% stake in Buenos Aires-based Globant S.A. and that its
wholly owned subsidiary Wunderman acquired Mexico City-based Crossmedia S.A.
The Group collectively, (including associates), will have revenues of over
US$1.6 billion and will employ over 18,000 people in the LATAM region alone in
WPP is the world’s largest communications services group with billings of
US$71.7 billion and revenues of US$16.1 billion in 2011. Through its operating
companies, the Group provides a comprehensive range of advertising and
marketing services including advertising & media investment management;
consumer insight; public relations and public affairs; branding and identity;
healthcare communications; direct, digital, promotion and relationship
marketing and specialist communications. The company employs over 162,000
people (including associates) in 3,000 offices in 110 countries. For more
information, visit www.wpp.com.
WPP was named Holding Company of the Year at the 2012 Cannes Lions
International Festival of Creativity for the second year running, since the
award was initiated.
Feona McEwan, + 44(0) 207 408 2204
Kevin McCormack, +1 212-632-2239
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