WPP makes series of agency purchases in Asia
LONDON - WPP Group has made four acquisitions in Asia including a design agency in India, an internet advertising agency in China and two marketing services agencies in South Korea.
The Indian brand identity and design agency, Ray + Keshavan Design Associates, had revenues for the year to April of 58.2m Indian rupees (£686,000) and has clients including Airtel, Infosys and Wipro.
WPP has taken a majority stake in the Bangalore-based shop, which was founded in 1989 and currently employs 33 people.
In China, WPP's Ogilvy & Mather Worldwide has acquired, subject to regulatory approval, 70% of Beijing Century Harmony Advertising, an internet ad agency.
The five-year old Beijing-based agency had revenues of 13.6m yuan (£919,000) in 2005 and has clients including ICBC, Li Ning and Yahoo! China, and employs 93 people.
China is one of WPP's fastest-growing markets and it claims its revenues from the region are higher than any of its competitors.
In South Korea, WPP's Wunderman network has agreed to acquire Seoul-based marketing services businesses SRP Corporation and ComHaus Korea.
SRP made revenues of $500,000 (£267,000) in 2005, has clients including Microsoft and Adobe, and employs 12 people.
ComHaus reported revenue of $700,000 in 2005, its clients include Microsoft and Softbank, and it has 10 staff.
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