WPP acquires Chinese consulting company

Advertising and media group WPP has announced that its wholly-owned operating company, TNS, is set to acquire Sinotrust Market Research, a market research and consulting company in China, from Experian.

The business, which was founded in 1992, employs 350 people and has offices in Beijing, Shanghai and Guangzhou. Sinotrust Market Research is the industry market leader in automotive market research in China.

In a statement WPP said: "This investment continues WPP's strategy of developing its services in fast-growing and important markets and sectors. Greater China - a region WPP has been committed to for over 20 years - remains one of the fastest growth markets for the company, and is currently WPP's third largest market with revenues of $1.4bn including associates."

Sinotrust Market Research's unaudited revenues for the year ended March 31st 2013 were RMB 255m, with gross assets at the same date of RMB 95m.

The share price inched 0.09% to 1,125p by 12:45 Monday.

NR