Acquisition by WPP Follows Share Swap with Dentsu
WPP has acquired full ownership of Y&R and Wunderman joint venture agency assets across Southeast Asia and Taiwan, and Dentsu Sudler & Hennessey in Japan, following a share swap transaction with Dentsu Inc.
Southeast Asia is home to many of the world’s most dynamic economies. This transaction marks the company‘s continued commitment to expanding in key growth markets and supporting clients through a strong pan-Asian network offering.
The transaction includes Y&R in Malaysia, Singapore, Thailand and Vietnam; Wunderman in Taiwan and Thailand; and Dentsu Sudler & Hennessey (to be rebranded as Sudler) in Japan.
Collectively, WPP companies across Asia Pacific generate revenues of almost US$4.8 billion/£3.52 billion including associates and employ more than 53,000 people.
Sir Martin Sorrell stepped down as CEO of the company last month after 33 years of service.