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Millward Brown Buys Chilean Agency Cadem
Millward Brown has announced the acquisition of Chilean research firm Cadem Advertising S.A. Cadem has operated as MB's licensee for a number of years and now becomes a wholly owned subsidiary, renamed Millward Brown Chile.
Founded in 1997, Cadem has 87 staff and already offers a broad range of research solutions incorporating MB proprietary methodologies such as Dynamic Tracking, Link and BrandDynamics, plus ad hoc qual and quant studies. Its unaudited revenues for the year ended 31 December 2011 were approximately CLP3.2 billion ($US 6.55m).
MB Global CEO Eileen Campbell says the deal continues Millward Brown's strategy of investing in growing markets and sectors and adds: 'The rapidly growing Latin American countries like Chile are amongst brand marketers' and, consequently, our top priorities.'
Millward Brown says that among 82 offices in 52 countries worldwide it now has locations in Brazil, Mexico, Argentina, Colombia, Peru, Chile and Central America. According to Latin America CEO Fabian Hernandez, the buy will help the firm to 'leverage its business as the most important market research company in the region.'
Part of WPP's Kantar, Millward Brown is online at www.millwardbrown.com .
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