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WPP
announces that its wholly owned companies Grey, G2 Worldwide and MediaCom
have acquired the outstanding shares in three leading agencies in Bogota,
Colombia.
Grey, the global advertising agency network, has acquired the remaining shares
in REP/Grey, one of Colombia's best-regarded advertising agencies. G2
Worldwide, the digital and relationship marketing company, has acquired the
remaining shares in REP/G2. MediaCom, the media investment management company
that is part of GroupM, has acquired the remaining shares in Massive, a media
agency in Colombia.
These three investments further strengthen WPP's leadership position and
commitment to 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. Collectively (including associates), the
Group will have revenues of approximately US $110 million and will employ
nearly 1,700 people in Colombia.
These transactions continue WPP's strategy of investing in fast growing
geographic markets, which currently represent one-third of US$16 billion
revenues in 2011, with an objective to reach 35-40% over the next five years
and reflects its commitment to developing its strategic networks throughout
Latin America. WPP regards this decade as very much the decade of Latin
America, particularly with the FIFA World Cup taking place in Brazil in 2014
and the Olympics in Rio in 2016.
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