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WPP: Ogilvy Buys 70% Stake in Foster Informatica For Undisclosed Sum

LONDON--WPP PLC (WPP.LN), a marketing communications services provider, said Tuesday that its operating company Ogilvy & Mather, the global marketing communications group, has acquired a 70% stake in Foster Informatica, Ltda, a digital agency in Brazil for undisclosed sum. MAIN FACTS: -Founded in 1993, Foster is based in Sao Paulo and employs 50 people. -Foster's unaudited revenue for the year ended Dec. 31 2011 were 5.0 million Brazilian real, with gross assets at the same date of BRR$4.1 million. -WPP shares at 0805 GMT up 5 pence, or 0.6%, at 800.5 pence, valuing the company at GBP10.03 billion. -Write to Razak Musah Baba at razak.baba@dowjones.com

Stock News for Wpp (WPPGY)
DateTimeHeadline
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