WPP increases stake in IBOPE Latin America
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FOR IMMEDIATE RELEASE |
17 December 2014 |
WPP PLC ("WPP")
WPP further strengthens capabilities in Latin America with increased stake in IBOPE, Latin America's leading data investment management group
WPP announces that its wholly-owned media research and analytics business, Kantar Media, a world leader in audience measurement, has agreed to acquire, subject to regulatory approvals, the entire issued quota capital of IBOPE Participações Ltda, which holds a majority of the capital of IBOPE Pesquisa de Midia e Participações Ltda, IBOPE Latinoamericana SA and IMI.com (collectively the "IBOPE Media Group"). WPP has been a minority shareowner in the IBOPE Media Group since 1997.
In addition, WPP will acquire the remaining 45% stake that it does not already own in Millward Brown do Brasil Ltda, a leading market research agency, already part of Kantar. The Group will also acquire a 49% stake in IBOPE Inteligȇncia Pesquisa e Consultoria Ltda, the best-known political and social polling brand in Latin America, which provides market, behaviour, brand, public opinion and internet research to a diverse range of clients.
Founded in 1942 in Rio de Janeiro, Brazil, as The Brazilian Institute of Public Opinion and Statistics, IBOPE is the leading provider of insight, information and data in the Brazilian and Latin American markets. The IBOPE Media Group employs over 2,200 people in offices in 16 countries, throughout Latin America and the United States.
For the year ending 30 September 2013, IBOPE Media's gross revenues were R$392 million, with gross assets of R$225 million as at the same date. Clients include media owners, investors and marketing communications agencies.
Commenting on the deal, Sir Martin Sorrell, CEO, WPP said: "I'm very pleased to welcome our long-standing partners at IBOPE fully into the WPP group. This acquisition further strengthens our capabilities in data investment management and at the same time in an important fast growth region. We intend to accelerate and deepen IBOPE's investment plans in Latin America, enabling us to offer regional clients the critical data they need, both in stand-alone media research and also in ways that combine media and purchase data to even more powerful effect. "
For Kantar Media this deal represents the culmination of a period of accelerated expansion and investment. In the past 18 months, the company has added expertise, extended global reach and new measurement capabilities through the acquisition of companies including Data Republic, Precise, the audio watermarking unit of Civolution, as well as the recently announced asset swap and investment in US TV and video measurement specialist, Rentrak.
Kantar is the data investment management division of WPP and one of the world's top two insight, information and consultancy groups. By connecting the diverse talents of its 12 specialist companies, the group aims to become the pre-eminent provider of compelling and inspirational insights for the global business community. Its 27,000 employees work across 100 countries and across the whole spectrum of research and consultancy disciplines, enabling the group to offer clients business insights at every point of the consumer cycle. The group's services are provided to over half of the Fortune Top 500 companies.
This investment continues WPP's strategy of investing in fast growing markets and strengthening its capabilities in data investment management. Collectively (including associates) Group companies generate revenues of US$650 million and employ nearly 6,000 people in Brazil, WPP's eighth largest market. In Latin America, WPP companies (including associates) collectively generate revenues of over US$1.6 billion and employ 20,000 people. Worldwide and prior to this acquisition, WPP's data investment management companies (including associates) collectively generate revenues of about US$5 billion and employ over 34,000 people.
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Contact: |
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Feona McEwan, WPP Chris Wade, WPP |
+ 44 (0)207 408 2204 |
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Kevin McCormack, WPP |
+1 212 632 2239 |
This information is provided by RNS
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