Wunderman, the wholly-owned subsidiary of advertising and marketing giant WPP has acquired a majority stake in the Mexico-based digital marketing agency CM Interactive S.A. (Crossmedia) .
Crossmedia's unaudited revenues for the year ending December 31st 2011 were over $5m with gross assets of over $5m at the same date. It was founded in 2004 and provides consulting, digital marketing and media buying services to clients, who include Banamex, Bimbo, PayPal and Cerveceria Cuauhtemoc.
Commitment to Latin America
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This acquisition continues WPP's strategy of investing in fast-growing markets and sectors and its commitment to developing strategic networks throughout Latin America.
Mexico is WPP's second largest market in the region with revenues, including associates, of approximately $200m and approximately 3,000 people employed.
WPP's share price was down 0.39% to 888.50p at 10:20 on Friday morning.
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