WPP acquires majority stake in Argentina’s Brandigital
WPP announced that Geometry Global, it's wholly owned activation agency, has acquired a majority stake in Brandigital S.A. ("Brandigital") in Latin America.
Brandigital is a digital agency that services clients across a variety of disciplines including social media, e-commerce, mobile and the creation of digital content. Established in 2002, Brandigital's unaudited revenue for the year ended 31 December 2012 was of Argentinean pesos $19.3 million (aproximately US $3 million). Clients include Adidas, Avon, Santander and SAP. The company is based in Cordoba, Argentina and employs 110 people working across offices in Buenos Aires, Mexico City, Bogota, Santiago and Panama.
Commitment to Latin America
This acquisition continues WPP's strategy of investing in fast growing markets and sectors and its commitment to developing its strategic networks throughout Latin America. Collectively, the Group generates revenues of US$1.6 billion (including associates) and employs over 18,000 people in Latin America. In Argentina, the Group generates revenues of US$ 300 million and employs 5,000 people.
WPP's digital revenues were well over US$5 billion in 2012 and represented 33% of total Group revenues of US$16.5 billion. The Group is targeting at least 40-45% of revenues to come from each of fast-growth markets and new media over the next five years.
In a separate press lease, WPP announced that its wholly-owned company Addison Corporate Marketing Limited, the corporate communications agency, has acquired a majority stake in Emaxol Limited, the holding company of IR Group Limited or "The Group", the UK's leading online corporate communications agency. The combined business will trade as Addison Group.