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WPP makes further investment in Leading Smart

WPP Digital, the FTSE 100 company's digital investment arm, has participated in a third round of financing relating to its minority investment in Leading Smart Holdings, which has a controlling interest in the parent company Miaozhen Systems.

WPP Digital, the FTSE 100 company's digital investment arm, has participated in a third round of financing relating to its minority investment in Leading Smart Holdings, which has a controlling interest in the parent company Miaozhen Systems.

As such, WPP has invested in a series C preferred share round in Leading Smart, alongside CBC, Kleiner Perkins Caufield & Byers and Redpoint Ventures.

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In a statement the company said: "This investment continues WPP's strategy of developing its services in fast-growing and important markets and sectors. Greater China - a region WPP has been committed to for over 20 years - remains one of the fastest growth markets for the company, and is currently WPP's third largest market with revenues of $1.3bn in 2012, including associates."

The group revealed that its digital revenue alone in China is over $300m and said it currently employs 14,000 people, including associates.

The share price rose 2.25% to 1,047p by 13:38.

NR

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