WPP acquires Singapore-based digital agency

by Ben Bold, Brand Republic 22-Jun-07, 12:30

LONDON - WPP has bought a 100% stake in independent Asian digital agency Blue Interactive in a deal which also sees it take ownership of the latter's search engine search subsidiary Demand.

Blue was founded in 1999 and employs 131 people. It is headquartered in Singapore and has offices in Beijing, Shanghai, London and Palo Alto, California. Clients include Hewlett Packard, SAP, Johnson & Johnson, Procter & Gamble, Singapore Airlines and Intercontinental Hotels.

WPP said that the acquisition is part of its strategy of "developing its networks in fast growing markets and sectors and strengthening its capabilities in digital media".

In the year ended December 31, 2006, Blue's unaudited revenues were £3.62m, with gross assets of £2m.

WPP has been on a digital shopping spree in 2007. In May it paid $649m (£329m) cash for global digital agency 24/7 Real Media. In April, it acquired a stake in US-based firm VideoEgg, a video advertising network specialising in providing clients with advertising across more than 60 social networking sites, including Bebo and AOL. In January, WPP bought a 2.5% stake in mobile search company JumpTap.