MAM
WPP strengthens Latin American foot print with 70% stake in Foster Informatica
MUMBAI: Global marketing & communications giant WPP has acquired 70 per cent stake in Brazil-based digital agency Foster Informatica through its operating agency Ogilvy & Mather.
The financial details were not disclosed.
The Brazilian agency was founded in 1993 and is based in Sao Paulo employing 50 people. Foster‘s unaudited revenue for the year ended 31 December 2011 were 5 million Brazilian real, with gross assets of 4.1 million Brazilian real.
WPP has been strengthening its foothold in the digital space by making a series of acquisitions around the world. While it recently acquired San Francisco-based digital agency AKQA in the US, in India it acquired Hungama Digital through JWT.
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