WPP Acquires a Majority Stake in F.biz, 70% Stake

WPP

, the world's largest communications services group, announces that it has acquired 70% of F.biz Ltda., the largest independent digital advertising agency in Brazil. The São Paulo based agency was founded in 1999 and has enjoyed annual growth rate of nearly 50% since then. The agency employs 200 people and services clients such as Unilever, Campari, Itaú, Vivo and NetShoes. F.biz' CEO Gal Barradas said, “By taking this stake in our company, WPP will enable us to offer the best and most complete service to clients. Our focus is on strategic brand positioning and our intention is to offer new models in the communications market. We're just beginning.”