19th Jun 2014 08:20
LONDON (Alliance News) - WPP PLC said Thursday its operating company XM Asia has acquired a majority stake in Vietnamese digital creative agency Sofresh Co Ltd.
Sofresh has a range of clients including Diageo PLC, GlaxoSmithKline PLC and Unilever PLC. It had revenues of VND35.7 billion in 2013, with gross assets of VND30.1 billion on December 31, 2013.
The acquisition is WPP's third in Vietnam in seven months, it said.
No financial details of the acquisition were disclosed.
Shares in WPP were trading up 0.5% at 1,268.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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