WPP adds Brazilian digital marketing muscle

(ShareCast News) - Advertising giant WPP has acquired a majority stake in Brazilian digital marketing specialist Pmweb Comunicação.Pmweb, which will operate under WPP's wholly-owned operating subsidiary Wunderman, monitors digital campaigns across multiple screens and devices on behalf of its clients, allowing them to tweak messages in real time to optimize their effectiveness. With 200m consumers it is Brazil's leading cross-channel campaign management and optimization company.In calendar 2015 it generated gross revenues of over R$32m from a client list that includes Avon, B2W Digital, LATAM Airlines, Lojas Renner, Mercado Livre, ViajaNet, Walmart and Whirlpool Corporation.Founded in 1997, it employs 140 people and is based in Porto Alegre with an office in São Paulo.The acquisition is part of WPP's strategy to invest in fast growing sectors such as digital and its commitment to developing its strategic networks throughout Latin America, whilst at the same time bolstering the its leadership position in Brazil.WPP's digital revenues were over US$7bn in 2015, making up 37% of the group's total revenue of US$19bn. It's target is to increase this to 40-45% in the next five years.In Latin America, WPP collectively generates revenues of US$1.5bn and employs 23,000 people. In Brazil, revenues were over US$400m with 7,000 workers.The share price was up 0.33% at 1,822p at 1344 GMT on Tuesday.