LONDON--Advertising company WPP PLC (WPP.LN) said Tuesday that it has agreed to acquire Shanghai, China, headquartered XMKT Group, a marketing services agency, for an undisclosed sum.

For the year ended Dec. 31, 2013, XMKT had unaudited revenue of 126 million chinese yuan, with gross assets of CNY138 million as at the same date.

Shares of WPP at 0818 GMT up 6 pence, or 0.50%, at 1204 pence, valuing the company at GBP16.04 billion.

-Write to Tapan Panchal at tapan.panchal@wsj.com

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