Acquisition

14th Jun 2006 07:01

WPP Group PLC14 June 2006 FOR IMMEDIATE RELEASE 14 June 2006 WPP GROUP PLC ("WPP") Millward Brown acquires ACSR in China WPP announces that its wholly-owned operating company Millward Brown, theinformation, insight and consultancy network, has acquired the business of AllChina Strategic Research Co., Ltd ("ACSR"), a leading independent marketresearch agency in China. On completion, ACSR's business will be merged withMillward Brown's current Chinese operations. WPP will hold a majority stake ofthe combined company with an option to acquire the remaining shares. Founded in 1997 and based in Beijing, with branches in Shanghai and Guangzhou,ACSR employs 147 people. ACSR had unaudited revenues of CNY50.34 million for theyear ended 31 December 2005, with net assets as at the same date of CNY 24.9million. Clients include P&G, Unilever, Shengshi Great Wall International Ads,Tianjin Wanke Property, Xi'an Janssen, Diantong (Shanghai) Ads, Kimberley(China) Investment, LG and Wal-Mart China. This acquisition continues WPP's strategy of developing its networks in fastgrowing markets and sectors. Greater China is one of the fastest-growing marketsfor WPP, with revenues approaching $500 million including associates - almostone-third of the company's total Asia Pacific business. WPP earns the highestamount of revenues from this region amongst its competitors. Consequently, theGroup, which employs 6,000 professionals in Greater China, has a very strongleadership position in the region - as it does in Asia overall - across allmarketing disciplines. WPP has been building its business in Greater China for 20 years. The Groupcurrently has 32 operating companies, including joint ventures, which operate inthe region through 130 offices. Contact: Feona McEwan, WPP 44-20 7408 2204www.wpp.com This information is provided by RNS The company news service from the London Stock Exchange

---

Related Shares:

WPP