WPP completes trio of emerging markets acquisitions

by Staff, Brand Republic 21-Aug-08, 11:00

LONDON - WPP Group has made its third overseas acquisition in just over a week, buying a minority stake in a Chinese in-game advertising agency.

The deal sees WPP, run by chief executive Sir Martin Sorrell, take a 12.82% share of IGA Limited, the Cayman Island-based parent company of InGame Ad Interactive Technology.

InGame Ad, which operates from Shanghai, is an in-game advertising network, providing advertisers with access to consumers through a portfolio of online and mobile games.

It follows the acquisition of a 51% stake in an Argentine marketing company called Yunes, through the Ogilvy network on Monday.

WPP also bought a 27.5% share of Kenya-based marketing communications agency Scangroup earlier this month. Scangroup employs 300 people and has offices in Kenya, Uganda and Tanzania.