What? WPP’s GroupM has acquired a majority stake in social media marketing business Vocanic Pte Ltd.
Why it matters? The company aims to continue its Asian expansion and expects a 40% growth after this new acquisition.
GroupM, WPP’s global media investment and operating company is continuing its Asian expansion with the acquisition of a majority stake in social media marketing business Vocanic Pte Ltd.
Vocanic’s client list comprises StarHub, Axis, EDB, SAP, Astro, Unilever, Dell, Symantec, Mead Johnson, Danone, WingTai Retail, MHD, and Standard Chartered Bank. The companies has around 70 employees and provides a range of social media strategy consulting, social technology, social media program and campaign management, community management and social media analytics services.
WPP is expecting a minimum 40% growth in new media over the next five years through its Asian growth.
No financial terms of the deal were revealed.
Source : mandmglobal