GroupM acquires Mediacore
27 July, 2004
WPP announces that its wholly-owned company, Group M, the global parent company of WPP's media investment management businesses, has agreed to acquire the entire issued share capital of MediaCore Communications Limited ("MediaCore"), the Taiwan media investment management company. Following the acquisition MediaCore's operation will be combined with WPP's MEC Taiwan. MEC: MediaCore will be part of a new Group M structure which will be lead by Sandra Yu as Chairwoman Group M Taiwan (formally CEO of MediaCore). Group M in Taiwan will also comprise the MindShare, Maxus and Chungl companies. This investment continues WPP's strategy of developing its networks in important markets and sectors such as Taiwan.
Mark Austin, CEO of MEC Asia Pacific commented "the acquisition of Media Core is a strategically important step towards realizing our growth and market share objectives that will drive greater benefits for all our clients. MEC Taiwan will provide media power that is centred on client needs by leveraging on the resources of GroupM, focused on results and delivered by talented people."
Sandra Yu, Chairwoman GroupM Taiwan said that, "we believe this new partnership will continue providing unrivalled media service to our clients and it will be the undisputed major force in Taiwan. The new operation puts in place a strong management team with substantial breadth and depth of experience, collaborative spirit and shared resources in GroupM (formerly ChungI). Our aim is to continue securing our leading position in the market for the benefit of our clients. Our new GroupM structure for our companies will enable us to provide international resources with proven local applications and expertise to our clients, and puts us strongly on the leadership position in the Taiwan media market. Our commitment to our clients will always be of the highest standards and our quest for improving our products and services will never stop." Sandra added, "I am really looking forward to this new challenge, and I am very excited to be working with the MindShare/Maxus management and continue to grow our combined forces in this market."
Andreas Vogiatzakis, MD/Country Head of MindShare/Maxus added that "this substantial step forward for is the best exemplification of our combined commitment to continue being the leaders and pioneers in this crucial regional and global market. GroupM, with its unparalleled combined resources in this market and its strong and proven talent and management leadership will continue taking media onto a higher level and continue raising the standards in Taiwan." Andreas added, "it is my great pleasure to welcome the new MEC:MediaCore teams into our family in Taiwan. I am excited to be able to work with Sandra Yu, and experienced and seasoned media professional in Taiwan. I am fully convinced that combining our forces into one strong unit, GroupM, is the best winning strategy to substantially grow our business in this crucial media market, and I am looking forward to be working closely with Sandra and the MEC:MediaCore management!"
Mediaedge:cia is a top-five global media communications specialist with 175 offices in 80 countries. It is part of GroupM, the company created by WPP to leverage the media investment interests of all group clients. Central to the company's philosophy is a belief in multi-disciplinary, channel neutral communications planning.
Through a combination of its highly skilled, diverse range of people, and its unique 'Navigator' operating system, Mediaedge:cia develops, manages and implements business-led media and marketing communications solutions for its clients – locally, regionally and globally. Services include: communication channel planning and implementation, strategic media planning, research and consumer insight, econometric modelling, media investment management, direct response and marketing services, sponsorship evaluation and implementation, entertainment marketing and digital consultancy and implementation. GroupM, the world’s leading full service media investment management operation, was created by WPP Group to oversee its assets in this sector. These assets include MindShare Worldwide, Mediaedge:cia Worldwide and MAXUS. The focus of GroupM is the intelligent application of volume and scale in trading, innovation and quality of services, in order to bring benefit to clients and the companies it operates.