WPP Buys Two Brazilian Shops, Midia Digital and I-Cherry

  |  May 13, 2010   |  Comments

Combined 2009 revenue was $5.3 million for Web development and search agency.

WPP Group acquired two Brazilian digital agencies, Midia Digital and I-Cherry, for undisclosed sums. The London-based holding company plans to operate the shops as standalone units for now, according to a Latin America region EVP.

Midia Digital, based in Sao Paolo with 91 employees, offers services including Web development and creative development. Its clients include HSBC, Johnson & Johnson, Brazilian insurer Porto Seguro, and online classifieds site Zap. I-Cherry is a 34-person search agency based in the city of Curitiba with Match.com and Hotels.com among its clients.

The agencies' combined 2009 revenues were $5.3 million, and WPP estimated their gross assets at $1.5 million. The company did not break out revenue or profit figures for the two agencies .

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ABOUT THE AUTHOR

Zachary Rodgers

Until March 2012, Zach Rodgers was managing editor of ClickZ's award-winning coverage of news and trends in digital marketing. He reported on the rise of web companies, data markets, ad technologies, and government Internet policy, among other subjects. 

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