MUMBAI: WPP’s wholly owned operating company, GroupM, 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 regulatory approval.

Netbooster Asia was founded in 2007 and is based in Manila and Jakarta and is a digital marketing agency offering media, production and creative services. It has an employee strength of 110 people and caters services to clients like Unilever, L’Oreal, Del Monte, Globe, BDO, Wyeth and Intel. Post the acquisition, Netbooster will be rebranded as Movent in the Philippines. 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 $2.4 million, with gross assets at the same date of approximately $2.4 million.