WPP Buys Brazilian Ecommerce Agency Corebiz

WPP Group Plc (WPP.L,WPPGY), a British mass media firm, said on Monday that it has acquired Corebiz, a Latin American ecommerce firm with an expertise in VTEX implementation, for an undisclosed sum.

The new move reflects WPP's ongoing investment into strengthening its commerce offer and is aligned with its accelerated growth strategy, building on existing capabilities in the areas of commerce and technology, WPP said in a statement.

Founded in 2013, Corebiz employs over 600 people across Latin America.
WPP manages over $40 billion of direct and $20 billion of marketplace GMV for clients and employs 13,500 commerce specialists across its agencies.

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