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WPP takes full ownership of Dentsu joint venture agencies in Asia
WPP has acquired full ownership of Y&R and Wunderman joint venture agency assets across south east Asia and Taiwan, it announced on Tuesday, as well as Dentsu Sudler & Hennessey in Japan, following a share swap transaction with Dentsu Inc.
The FTSE 100 advertising giant said south east Asia was home to many of the world's "most dynamic" economies.
It said the transaction marked WPP's "continued commitment" to expanding in key growth markets and supporting clients through a strong pan-Asian network offering.
The transaction included Y&R in Malaysia, Singapore, Thailand and Vietnam; Wunderman in Taiwan and Thailand; and Dentsu Sudler & Hennessey - to be rebranded as Sudler - in Japan.
"Collectively WPP companies across Asia Pacific generate revenues of almost $4.8bn including associates and employ more than 53,000 people," the board said in its statement.