WPP Says Mindshare To Acquire MASSCOM Media Agency In Philippines

(RTTNews) - WPP Group PLC (WPP.L, WPPGY) Friday said its wholly owned operating company, Mindshare, a global media agency network, has agreed to acquire the business and assets of Media Arts System and Services Company, Inc. or MASSCOM in the Philippines. MASSCOM was established in 1986 as an independent media agency, serving Unilever exclusively in the Philippines. It provides media planning, strategy and buying services to the consumer goods giant. This acquisition marks a further step towards WPP's goal of developing its networks in fast-growth markets and sectors.

In the Philippines, WPP companies, including associates, generate revenues of over $80 million and employ about 1,000 people.

In the Asia Pacific region, WPP companies, including associates, generate revenues of $5 billion and employ more than 47,000 people.

WPP recently raised its targets from 35-40 percent for each of fast-growth markets and new media to at least 40-45 percent, over the next five years.