WPP: GroupM Buys Alchemedia for Undisclosed Sum

Date : 07/02/2012 @ 2:50AM
Source : Dow Jones News
Stock : WPP PLC (WPP)
Quote : 95.53  0.56 (0.59%) @ 3:59PM

WPP: GroupM Buys Alchemedia for Undisclosed Sum

WPP (LSE:WPP)
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LONDON--Advertising firm WPP PLC (WPP.LN) said Monday its wholly owned operating company, GroupM, has agreed to acquire Alchemedia Inc., a media planning & buying agency in South Korea, for an undisclosed sum.

MAIN FACTS:

-Alchemedia's audited revenue for the year ended Dec. 31, 2011 was 1.4 billion Korean won, with gross assets of KRW10.0 billion.

-WPP shares closed Friday at 773 pence valuing the company at 9.74 billion pounds.

-Write to Ian Walker at ian.walker@dowjones.com

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