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
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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.
MF
-
IMF suggests “refinements” to Rachel Reeves’s fiscal rulesThe IMF has upgraded the UK’s growth forecast but wants Reeves to refine her fiscal rules to avoid unnecessary spending cuts or tax rises
-
Invest like a tortoise, not a hare to avoid market volatilityOpinion Hassan Raza, Portfolio Manager at CG Asset Management, highlights three favourite investment companies
