Double acquisition for WPP
Acquisitive advertising conglomerate WPP has announced that XM Asia, a division of WPP's wholly-owned operating company, JWT, has agreed to acquire a stake in Magnivate, a leading digital agency in Indonesia.
Acquisitive advertising conglomerate WPP has announced that XM Asia, a division of WPP's wholly-owned operating company, JWT, has agreed to acquire a stake in Magnivate, a leading digital agency in Indonesia.
Magnivate, which was founded in 2010, has clients which include Danone, Samsung and Unilever.
The agency's unaudited revenues for the year ended December 31st 2011 were around IDR 16bn (c.£1.1m), with gross assets at the same date at about IDR 7 bn (c.£0.49m)
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
The firm also announced that its wholly-owned operating company, tenthavenue, in partnership with GroupM, has agreed to acquire Wisereach, a leading mobile marketing agency in China.
WPP's businesses in the Asia Pacific region now generate annual revenues of over $4bn, while Greater China is currently WPP's fourth largest market with revenues of $1.1bn.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Could your family be at risk of an unexpected tax bill? How to keep your loved ones in the loop
Many families are out of the loop when it comes to planning the financial aspects of both retirement and inheritance
-
Rightmove: Glut of homes for sale in southern England drives asking price drop
Asking prices are 0.1% lower than a year ago, according to the property website, driven by challenges in affordability-stretched London and the south