WPP fully acquires Asia-Pacific agencies
The deal includes Y&R in Malaysia, Singapore, Thailand and Vietnam, and Wunderman in Taiwan and Thailand.
The company has also gained full ownership of Dentsu Sudler & Hennessey in Japan, following a share swap transaction with Dentsu Inc. The company will be rebranded as Sudler.
WPP’s companies in Asia-Pacific generate collective revenues of almost $4.8bn, the company said.
In exchange, Y&R and Wunderman in Japan have become wholly owned subsidiaries of Dentsu Inc, the company said in a statement. Dentsu Y&R will be rebranded as Dentsu e3, while Dentsu Wunderman is renamed as Dentsu Direct Solutions.
WPP’s move to acquire full control of its assets in Asia-Pacific comes at a time of speculation from analysts that the firm could be broken up following the high-profile departure of longstanding chief executive Sir Martin Sorrell.
In the company’s quarterly results, released yesterday ( 30 April), joint chief operating officers Mark Read and Andrew Scott stated that a strategic review is underway to address under-performing parts of the business.
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