Ogilvy & Mather acquires stake in Chinese ad agency
Ogilvy & Mather has acquired a 49% stake in Chinese advertising agency, Nanjing Yindu Advertising and Commerce Co, as it looks to expand it presence in the region.
Ogilvy & Mather: acquires stake in Chinese ad agency
The acquisition is subject to regulatory approval. It will enable the WPP-owned agency to expand its reach into the Yangtze River Delta, which encompasses the Jiangsu, Anhui and Zhejiang provinces outside China's coastal region.
Yindu was founded in 1994 and employs 250 people. It has reported billings of £43.5m in 2010 and has capabilities that include strategic planning, advertising, branding and corporate identity, print and media production and media buying. Clients include Jiangsu Mobile, Heilan Home and Nanjing Iveco.
China is currently WPP's fourth largest market with revenues of $1.1bn.
Yindu is WPP's second Chinese acquisition in the last month. In November the advertising giant invested further in Chinese in-game advertising company InGameAd (IGA), while in October WPP teamed up with the Shanghai Art & Design Academy (Sada) to establish the WPP School of Marketing and Communications within the campus.
Last week WPP's global digital marketing agency VML acquired a majority stake in Qais Consulting, the Singapore-based digital marketing agency, for an undisclosed sum.
Follow Sara Kimberley on Twitter @SaraKimberley
This article was first published on campaignlive.co.uk
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