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."
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
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
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the USMedium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.
