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WPP acquires remaining shares of three Colombian agencies

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MUMBAI: Three of WPP-owned companies - Grey, G2 Worldwide and MediaCom - have acquired the outstanding shares in three agencies in Bogota, Colombia.

Global advertising agency network Grey has acquired the remaining shares in advertising agency REP/Grey. WPP?s digital and relationship marketing company G2 Worldwide has acquired the remaining shares in REP/G2 while MediaCom (JV between Indian media group Madison and WPP?s GroupM) has acquired the remaining shares in media agency Massive.

After the latest acquisitions, WPP?s collective revenues (including associates) in Columbia will amount to approximately US $110 million.

The acquisitions are steps towards furthering strengthening WPP?s presence in 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.

In the past month, WPP also announced that it had invested approximately $70 million to take a 20 per cent 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 $1.6 billion and will employ over 18,000 people in the Latin American region alone in 2013.

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