MindShare acquires former affiliate in Russia
5 April, 2007
WPP announces that its wholly-owned operating company, MindShare, the leading media investment management network, has completed the acquisition of its former affiliate in Moscow (“MindShare Russia”). The business of MindShare Russia (which includes business carried on under related brands Maximise and MindShare Interaction) was formerly carried on under the names Adworks Corporation, New Edge Media, Media Insight and mDigital.
Founded in 2001 and based in Moscow, MindShare Russia employs 106 people servicing MindShare’s global clients, including Ford, Motorola, IBM, Kimberly-Clark and Pfizer.
The revenues of the acquired businesses for the year ended 31 December 2006 were RUR 186,715,000 with gross assets at that date of RUR 413,054,000.
This investment continues WPP’s strategy of developing its networks in fast growing markets and sectors.