WPP buys majority stake in Russian market research group

Media and advertising giant WPP has snapped up a majority stake in Russia- and Ukraine-focused market research group ARMI-Marketing.Moscow-headquartered ARMI is to be acquired by WPP's brand, media and communications research arm, Millward Brown.Founded in 1992, ARM employs 200 people and works with two-third's of Russia's top 15 advertisers. It generated revenues of 735m ruble during 2012, equal to around £14m."This investment continues WPP's strategy of developing its services in fast-growing and important markets and sectors. With ARMI, WPP companies (including associates) will have revenues of over $300m and employ over 2,000 people in Russia," the company said in a statement.WPP also said that the investment strengthens the capabilities of Kantar, its data investment management company.BC