WPP subsidiary Wunderman acquires majority stake in Crossmedia

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.

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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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