WPP in second round of financing at IGA

WPP, the highly acquisitive advertising firm led by Sir Martin Sorrell, has participated in a second round of financing to maintain its minority interest in InGameAdvertising (IGA) in China.

IGA, which was founded in 2005 and employs 30 people, has invested in the stock alongside new investor Singtel Innov8 and existing investor Revolution Capital.

In a statement the firm said: "This investment continues WPP's strategy of developing its services in fast-growing and important markets and sectors.

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"Greater China - a region WPP has been committed to for over 20 years - remains one of the fastest growth markets for the group, currently WPP's fourth largest market with revenues (including associates) of well over $1bn. WPP's digital revenue alone in China is well over $200m."

NR