British advertising giant WPP has announced that its subsidiary Geometry Global has bought a majority stake in Latin America’s digital agency Brandigital, although neither company has disclosed the financial details of the deal.
Based in Cordoba, Argentina, Brandigital – whose clients include Adidas, Avon, Santander and SAP – employs more than 110 people working across offices in Buenos Aires, Mexico City, Bogota, Santiago and Panama.
Brandigital reported $3.3 million in revenue in 2012. The digital agency, founded in 2002, serves clients across a spectrum of disciplines including social media, E-commerce, mobile services and the creation of digital content.
“Moving forward they will be a great partner to help make our digital offering more powerful across the region, so we can connect with people at precisely the right times, in the right places, and in the right ways, delivering the most effective solutions for our clients using Precision Activation,” said Steve Harding, Global CEO of Geometry Global.
The acquisition helps WPP expand its operations in Latin America, where it employees more than 18,000 people.
In a separate press release, WPP revealed that its subsidiary Addison has acquired a majority stake in Emaxol, the holding company of its online rival IR Group.
WPP’s digital revenues were well over $5 billion in 2012 and represented 33% of WPP’s total revenues of $16.5 billion. WPP says it is aiming to make at least 40-45% of its revenues from fast-growth markets and new media over the next five years.
In January this year, WPP picked up 20% stake in digital innovation and software builder Globant for $70 million.