LONDON (Alliance News) - Advertising and marketing group WPP PLC on Wednesday said it has struck a partnership with Chinese internet services company Tencent to establish the "China Social Marketing Lab".
The pair have signed a memorandum of understanding and entered a strategic alliance to create the lab, which will develop new online advertising services for clients.
"This partnership combines the best of talent and technology within WPP and Tencent. Fostering innovation in the social sphere is key in today's world of hyper-connectivity. Collaborating with partners and clients is a strategic way forward for WPP and our agencies to create stronger products for better engaging end-users," said Martin Sorrell, WPP's chief executive.
WPP shares were up 1.5% to 1,545.00 pence Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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