WPP buys Red Dot Square Solutions
LONDON - WPP has acquired virtual reality market research firm Red Dot Square Solutions, a specialist that helps retailers study in-store shopper behaviour.
The acquisition, the value of which is undisclosed, will see WPP house the research firm within WPP's research division, Kantar and was negotiated ahead of the marketing group's purchase of research giant TNS.
Red Dot Square's clients include major multiples Tesco, Safeway, Wal-Mart, and it works collaboratively with FMCG groups such as General Mills, Kimberly-Clark, Sara Lee and Unilever.
In 2008 Red Dot Square generated unaudited revenues of £6.1m and had gross assets worth £3.8m.
Red Dot Square was founded in 2006 by its current president, Mark Edwards, and employs 60 people. It is based in the UK and has an office in Chicago in the US.
The firm uses real-time store information to conduct research into consumer behaviour.
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