Global advertising company WPP Plc has bought Brazil's largest independent digital agency, F.biz, The Telegraph reported today.
WPP now owns 70 percent of F.biz, which will be independently positioned as part of WPP Digital, the Wall Street Journal explained.
Fbiz was founded in 1999 and had a 50 percent annual growth rate since then, according to ClickZ. WPP meanwhile, reported global revenues up 6 percent in the first quarter of the year. By market, its U.S. operations were up 8 percent, UK by 7 percent, continental Europe by 6 percent and BRIC countries by more than 17 percent.
Terms of the sale were not disclosed.
WPP now owns 70 percent of F.biz, which will be independently positioned as part of WPP Digital, the Wall Street Journal explained.
Fbiz was founded in 1999 and had a 50 percent annual growth rate since then, according to ClickZ. WPP meanwhile, reported global revenues up 6 percent in the first quarter of the year. By market, its U.S. operations were up 8 percent, UK by 7 percent, continental Europe by 6 percent and BRIC countries by more than 17 percent.
Terms of the sale were not disclosed.
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