WPP has extended its reach into the Chinese media market, with the acquisition of Beijing Hua Yang Lian Zhong Advertising Company (HYLZ).
The acquisition will now come under WPP’s GroupM, specialising in on-line and interactive media throughout the People’s Republic of China.
HYLZ had audited revenues of CNY 20.75 million (US$2.6 million) for the year ended 31 December 2005, with net assets as at the same date of CNY 15.5m (US$ 1.94m).
HYLZ employs 99 people and is based in Beijing, with a branch in Shanghai.
Earlier this year saw WPP acquire the majority stake in Sapphire Bright Limited, owner of two leading promotional and merchandising companies in China.
The deal saw clients including Unilever, Visa, Colgate, UT Starcom, McCormick, Pepsi Food, Exxon Mobile and Cadbury brought into the WPP fold (see WPP Continues To Develop Networks).
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