WPP Group is continuing its expansion strategy, with J Walter Thompson purchasing a 30% stake in Chinese advertising and marketing group, Newsun Insight.
Newsun, which generates revenue of $1.95 million last year, was founded in 2002 and currently employs 115 people. Clients of the Guangzhou based group include TCL computers, Li Bai detergent and Star Music DVDs.
Already WPP owns dozens of companies across Asia-Pacific, including China, which has proved to be a very successful market for the group. Growth across Asia Pacific, Latin America, Africa & Middle East grew by 28.9%, during the first half of this year for WPP, compared to Continental Europe which was up by only 8.5%. (see Revenues At WPP Exceed Expectations To Reach £2 Billion).
Last week, WPP snapped up American advertising group, Grey Global for £845 million, a deal that brings it neck and neck with US-owned Omnicom for the title of the world’s largest advertising agency (see WPP Wins Battle For Grey With £845 Million Bid).
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