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WPP's Millward Brown buys out Cadem Advertising

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MUMBAI: WPP‘s global research agency Millward Brown has acquired Chilean consumer insights company Cadem Advertising.

Millward Brown is a global company focused on brands, media and communications. It is part of Kantar Group, the insights arm of WPP plc.

Founded in 1997, Cadem has operated as a licensee of Millward Brown for many years providing brand tracking, quantitative and qualitative research services.

According to the official communiqué, Cadem employs 87 people and key clients include Coca-Cola, Falabella Retail, Nestle, Telefonica and Unilever. Its unaudited revenues for the year ended 31 December 2011 were approximately $6.55 million with gross assets of approximately $2.66 million.

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. The Group collectively employs (including associates) 15,000 people with revenues of $1.5 billion in Latin America.

Post acquisition, Cadem Advertising will become Millward Brown Chile, and, consequently, Millward Brown will consolidate its operations in Latin America, by being present in the entire region, with offices in Brazil, Mexico, Argentina, Colombia, Peru, Chile and Central America.

Millward Brown Latin America CEO Fabian Hernandez said, "This acquisition is helping us to leverage our business as the most important market research company in the region. Through our presence and service throughout Latin America and by offering excellence in our methodologies and analysis, we are consolidating ourselves as strategic partners for our clients in their market research and brand, media and communication consulting projects in Latin America."

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