WPP To Buy Creative And Research Agency From Mongolian Conglomerate MCS

(RTTNews) - UK-based advertising giant WPP Plc (WPP.L, WPPGY) Friday said its unit Y&R Advertising has agreed to acquire the creative and research agency of Mongolian conglomerate MCS Holding LLC.

The creative and research agency, which was established in 2008, provides a range of services, including advertising development and events management as well as consumer and retail market research services. Its clients include MCS Asia Pacific Brewery, Dell, Herbalife, and JTI. The agency has approximately 45 people.

Following the acquisition, the agency will be renamed Y&R Mongolia, and its market research business will be affiliated to WPP's global research consultancy TNS. It will be the first international research consultancy to establish a presence in Mongolia.

According to the firm, the latest acquisition marks a further step towards its declared goal of developing its networks in fast-growth markets and sectors.

In the Asia Pacific region, WPP companies generate revenues of $5 billion and employ almost 50,000 people. The company said it is targeting at least 40%-45% of revenues to come from each of fast-growth markets and new media over the next five years.