Advertising and marketing giant WPP PLC (LSE: WPP) said its wholly-owned unit Added Value has agreed to acquire a 51 percent stake in each of Saffron Hill Research Pte Ltd and Saffron Hill Philippines Inc, research houses in Singapore and the Philippines.
Financial details were not disclosed.
Founded in 2001, Saffron Hill employs 38 people and clients include BAT, Epson, Johnson & Johnson, Microsoft, Nokia and Singtel.
Saffron Hill's unaudited revenues for the year ended 31 December 2008 were S$4.4 million, with gross assets at the same date of S$1.4 million.
This investment continues WPP's strategy of developing its networks in fast growing markets and sectorshttp://www.proactiveinvestors.co.uk
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