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.

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

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Bitcoin: fool’s gold or the new gold?
Bitcoin

Bitcoin: fool’s gold or the new gold?

With bitcoin hitting new highs last week, and close to becoming a mainstream investment, is it really gold for the 21st century?
15 Jan 2021
Forget austerity – governments and central banks have no intention of cutting back
Global Economy

Forget austerity – governments and central banks have no intention of cutting back

Once the pandemic is over will we return to an era of austerity to pay for all the stimulus? Not likely, says John Stepek. The money will continue to …
15 Jan 2021
The MoneyWeek Podcast: bitcoin special
Bitcoin

The MoneyWeek Podcast: bitcoin special

Merryn talks to bitcoin experts Dominic Frisby and Charlie Morris to get the lowdown on the cryptocurrency to find out why it's such a huge global phe…
15 Jan 2021
Free 6 issue trial then continue to