WPP Buys Stake in Hispanic Media Firm Mitu

WPP has acquired a minority interest in Hispanic media and tech company Mitú, which creates original content, and analyses its Latino audience's consumption of that content across social media. Terms of the deal were not disclosed.

Launched in 2012, Mitú is based in Santa Monica with additional offices in Mexico and Colombia, and employs around 120 people. The firm claims to be home to the largest group of Latino content creators and social influencers, with a global audience of more than 100 million. As well as producing and distributing original content, the firm creates branded entertainment on behalf of its clients.

It also analyzes its Latino audience using its own technology, feeding the results into its ongoing creation of viral content. Mitú has more than two billion global monthly views across all platforms in the US, as well as Mexico, Brazil and other Latin American countries.

In a statement, WPP said this acquisition - made via its WPP Digital investment arm - continues its strategy of investing in key regions and sectors.

Web sites: www.wpp.com and www.mitunetwork.com .