WPP susbsidiary acquires stake in Thomas Idea

FTSE 100-listed advertising and marketing giant WPP has reported that XM Asia, a division of its wholly-owned operating company JWT, has acquired a majority stake in Thomas Idea, a Thailand-based digital marketing agency.

Thomas Idea employs 45 people and had total assets of approximately THB 50m (£1.13m) on December 31st. Its services include online strategy consulting, website design and digital marketing and its clients include Beiersdorf abd Reckitt Benckiser.

WPP's announcement stated that the investment "is another step in implementing WPP's objective of developing its businesses in the fast growing economies of Asia Pacific, as well as Latin America, Africa and the Middle East, and Central and Eastern Europe."

Collectively, the group, including associates, has revenues of $5bn in the Asia Pacific region, and employs more than 46,000 people in that region. In Thailand, the group, including associates, has revenues of approximately $140m and employs around 1,600 people.

WPP's share price was down 0.09% to 1,085p at 09:27 on Thursday.

MF