UK-based advertising giant WPP Plc's (WPP.L, WPPGY) wholly-owned operating company Wunderman, a global digital agency network, has acquired a majority stake in Binarix S.A.C. ("Phantasia"), a digital marketing agency in Peru.
Phantasia's gross revenues for 2014 are likely to be S/.22.2 million. Clients include Telefonica, Backus, Banco de Credito, Samsung and Coca-Cola. Lima-based Phantasia employs 200 people. The agency, which provides consulting, digital marketing, creative and media buying services to its clients, was founded in 1998. It has been a Wunderman affiliate since 2012.
This investment continues WPP's strategy of investing in fast growing sectors such as digital and its commitment to developing its strategic networks throughout Latin America. The Group collectively generates revenues of US$1.6 billion in Latin America and employs 20,000 people. In Peru the Group, including associates, recorded revenues of over $40 million and employs 700 people.
WPP has set a target of 40% - 45% of revenue to be derived from digital in the next five years.
by RTTNews Staff Writer
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