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RI Buys Majority Stake in China's Zdology
WPP-owned Research International (RI) is to acquire a majority stake in shopper research specialist Zdology. Financial details were not disclosed.
Founded in 2004 in Guangzhou, the agency's clients include Johnson & Johnson, Kraft, Motorola, Pfizer and Wrigley China. Its unaudited revenues for the year ended 31 December 2007 were RMB 6.2m (c.£410,000), with gross assets at the same date of RMB 5.6m (c.£370,000).
In a statement, WPP said that the investment continues its strategy of developing its networks in fast-growing markets and sectors. Greater China has generated revenue of more than $600m for WPP, which currently employs 9,000 across the continent.
WPP's CEO Martin Sorrell has also reiterated possible interest in buying Synovate, in an interview with the newspaper Le Figaro. Sorrell told the paper that WPP wanted to expand in market research through small or mid-sized acquisitions and that Synovate, owned by rival Aegis, was 'one of the opportunities'. Sorrell also told the paper that he expects revenue to grow by around 6% this year, driven by the Olympic Games in China, the US elections and the Euro 2008 football tournament.
Web sites: www.wpp.com , www.research-int.com , www.zdology.com and www.synovate.com .
In January, WPP acquired consumer market research firm Yankelovich, and merged it into its consumer trends and future research agency, Henley Centre HeadlightVision (www.mrweb.com/drno/news7791.htm ).
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