WPP's marketing agency acquires stake in Qais

WPP's wholly-owned digital marketing agency, VML has acquired a majority stake in Qais Consulting, also a digital marketing agency, based in Singapore.

Qais will join its business operations with VML, and together they will be rebranded as VML Qais, operating as part of Y&R Asia.

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Qais' revenues for the year ended 31 December 2010 were S$4m, with gross assets of S$1.6m at the same date.

In statement the firm said: "This investment continues WPP's strategy of developing its networks in fast growing and important markets and sectors and strengthening its capabilities in digital media.

"WPP's businesses in the Asia Pacific region generate revenues of over $4bn and employ approximately 42,000 people. Globally, new media and digital accounts for approximately 30% of WPP revenues. In 2010, WPP reported global revenues of $14.4bn."

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