WPP’s wholly owned operating company, XM Asia, a JWT company, has agreed to acquire a majority stake in Sofresh, a digital creative agency in Vietnam.
Sofresh, co-founded in 2007 by Ly Viet Vu and Justin Cohen, develops digital strategy, digital creative ideas and marketing campaigns across multiple digital channels, including social media, mobile and the web.
The acquisition marks a step towards WPP's declared goal of developing its networks in fast-growth markets and sectors and continues WPP's strategy of strengthening the Group's capabilities in digital media. This was an announcement was made in a statement published on the company’s official website.
Sofresh marks WPP’s third acquisition in Vietnam in seven months.
Source: http://cablequest.org/news/international-news/item/5266-cq-wpp%E2%80%99s-xm-asia-eyes-to-acquire-stake-in-sofresh.html
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