Kantar to acquire Oracle Market Research Holdings
1 October, 2004
WPP announces that its wholly-owned company, The Kantar Group ('Kantar'), the global parent company of WPP's Insight, Information and Consultancy businesses, has agreed to acquire Oracle Market Research Limited (Hong Kong) and Oracle Market Information.
Following the acquisition, Oracle's operation will join Kantar's Added Value network, and be branded as Oracle Added Value.
Founded in 1994 and head quartered in Hong Kong, with offices in Beijing, Shanghai and Guangzhou, Oracle's clients include Coca-Cola, Unilever, Bristol-Myers Squibb, Danone, HSBC, P&G, Pernod Ricard, Xian Janssen, Bausch & Lomb and Effem Foods.
Oracle employs 130 people and had revenues of HKD 65 million (USD 8.4 million) for the year ended 31 December 2003 and net assets at completion of the acquisition of HKD 16.5 million (USD 2.1 million).
This initiative continues WPP's strategy of developing its capabilities in fast-growing and important markets.