REG - WPP PLC - Ogilvy acquires majority stake in 3yz in Brazil <Origin Href="QuoteRef">WPP.L</Origin>

WPPAnnouncement

18/02/2016 11:00

RNS Number : 4608P
WPP PLC
18 February 2016
FOR IMMEDIATE RELEASE
18 February 2016
WPP PLC ("WPP")
Ogilvy acquires majority stake in digital agency 3yz in Brazil 
WPP announces that its wholly-owned operating company Ogilvy, the global marketing communications company, has acquired a majority stake in 3yz Marketing Digital Ltda. ("3yz"), a leading online social and content marketing agency in Brazil.
Clients include Grendene, RBS, Reebok, Ri Happy,ShoppingsIguatemi and Tramontina. The company employs 53 people and is based in Porto Alegre with an office in So Paulo. It was founded in 2008. 3yz will be part of Ogilvy Group Brazil, which includes such operating companies as Ogilvy & Mather, 9ineSports & Entertainment, ETCO, Foster and Jssi. It will operate as 3yz.
This investment continues WPP's strategy of investing in fast growth sectors such as digital and its commitment to developing its strategic networks throughout the Brazilian market. WPP's digital revenues were US$6.9 billion in 2014, representing 36% of the Group's total revenues of US$19 billion. WPP has set a target of 40-45% of revenue to be derived from digital in the next five years.
Collectively (including associates and investments), Group companies generate revenues of around US$600 million and employ over 6,000 people in Brazil, WPP's seventh largest market. In Latin America, WPP companies (including associates and investments) collectively generate revenues of over US$1.6 billion and employ over 21,000 people.
Contact:
Feona McEwan, WPP
+ 44(0) 207 408 2204
Kevin McCormack, WPP
+1 (212) 632 2239
 
 

This information is provided by RNS
The company news service from the London Stock Exchange
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