Business
J. Walter Thompson takes majority stake in Enext
J. Walter Thompson takes majority stake in Enext.
About this update from Wpp Plc
[{"type":"text","content":"\n \nRNS Number : 0707V WPP PLC 31 October 2017 \n\n\n\n\n\nFOR IMMEDIATE RELEASE\n\n\n31 OCTOBER 2017\n\n\n\n\n \n \nWPP PLC (\"WPP\")\n \n \nJ. Walter Thompson takes majority stake in e-commerce specialist Enext in Brazil \n \n \nWPP announces that J. Walter Thompson Company, its wholly owned global advertising agency, has acquired a majority stake in E-Next Consultoria e Serviços de Internet Ltda.(\"Enext\"), a digital agency in Brazil that specializes in e-commerce and Icloud marketing solutions.\n \nEnext revenues were R$10.4 million for the year ended December 31, 2016. Clients include Ambev SA, Arezzo, Mondelez International, Multiplus SA, Novartis AG, Restoque SA and Sephora. Enext employs 120 people and is based in São Paulo. It was founded in 2008.\n \nEnext is a leader in consulting, platform development and managing digital initiatives for clients in Brazil. It offers a unique portfolio of services through the development of digital journeys for consumers to the creation and activation of digital campaigns, the optimization of transactions and the development and monitoring of client relationship models.\n \nThe investment continues WPP's strategy of investing faster growing sectors such as digital and e-commerce and important markets like Brazil. WPP's digital revenues were over US$7.5 billion in 2016, representing 39% of the Group's total revenues of US$19.4 billion. WPP has set a target of 40-45% of revenue to be derived from digital in the next four to five years. Digital represented 41% of WPP's revenues as of June 30, 2017.\n \nWPP is the leading communications services group in Brazil. The Group's operating companies (including associates) generate revenues of over US$400m and employ almost 7,000 people in Brazil. In Latin America, WPP operating companies (including associates) generate revenues of approximately US$1.6 billion and employ over 23,000 people.\n \nContact:\n\n\n\n\nFeona McEwan, WPP \n\n\n+44(0) 20 7408 2204\n\n\n\n\nKevin McCormack, WPP\n\n\n+1 (212) 632 2239\n\n\n\n\n \n \n \n \n \n \n\nThis information is provided by...