WPP’s Wunderman acquires majority stake in Crossmedia

MUMBAI: WPP‘s global digital and relationship marketing company Wunderman has acquired a majority stake in Mexico-based digital marketing agency CM Interactive S.A. -Crossmedia.

According to WPP, Wunderman has revenues of approximately $1 billion. Crossmedia‘s unaudited revenues for the year ended 31 December 2011 were over $5 million with gross assets of over $5 million, the agency conglomerate said in a statement.

Founded in 2004, Crossmedia is headquartered in Mexico City and provides consulting, digital marketing, creative and media buying services to their clients. It employs 86 people and key clients include Banamex, Bimbo, PayPal and Cerveceria Cuauhtemoc.

This acquisition continues WPP‘s strategy of investing in fast growing markets and sectors and its commitment to developing its strategic networks throughout Latin America. Mexico is WPP‘s second largest market in the region with revenues, including associates, of approximately US $200 million and approximately 3,000 people employed, the agency said.