WPP has reached a deal to acquire Mexican digital marketing agency Clarus, as the British advertising giant continues its acquisition spree in Latin America’s digital technology market.
Mexico City-based Clarus employs 112 people and works with clients such as Telcel, Citi-Banamex, Aeromexico, and Sigma Alimentos. The agency, founded in 2009, provides digital marketing and media buying capabilities.
Clarus, according to WPP, is on target to achieve revenues of US$7.4 million this year. Over the past few years, WPP has expanded its operation throughout Latin America, where the company currently employs well over 20,000 people.
According to WPP’s own statement, its subsidiaries collectively generate US$1.6 billion in annual revenue in Latin America. Furthermore, the firm’s global digital revenues were over $6 billion in 2013, accounting for just over a third of the group’s overall income.
In August last year, WPP’s local subsidiary Geometry Global bought a majority stake in Argentina’s digital agency Brandigital. Earlier this week, WPP’s subsidiary Millward Brown snapped up Habitus Investigación, a market research company in Ecuador, for an unknown price.
Habitus’ 2014 revenues will be US$5 million and it clients include the Interamerican Development Bank, Coca-Cola, SAB Miller and Nestlé. Founded in 2002, Habitus employs 80 people and is based in Quito with an office in Guayaquil.
The British firm is aiming to make at least 40-45% of its revenues from fast-growth markets and new media over the next five years.
In January 2013, WPP picked up 20% stake in digital innovation and software builder Globant for $70 million.