WPP set to make an acquisition in Vietnam

WPP has agreed to acquire a majority stake in Marketeers, a full-service integrated marketing agency based in Vietnam.Marketeers conducts promotional campaigns, activation and field marketing services.Founded in 2002, the company is headquartered in Ho Chi Minh City, with representative offices in Hanoi, Danang and Can Tho, in addition to marketing service teams throughout the country.With more than 75 people in direct employment and more than 1,000 people in activation and field marketing services, its clients include Diageo, Microsoft, Procter & Gamble, Budweiser, Kirin Interfood and Boehringer Ingelheim.WPP said the investment is further proof of its goal of developing the network in fast-growth markets.In Vietnam, WPP companies (including associates) generate revenues of US$65 million and employ approximately 1,000 people. In the Asia Pacific region, WPP companies (including associates) generate revenues of US$5 billion and employ more than 47,000 people.Globally, WPP's digital revenues were well over US$5 billion in 2012 and represented 33% of total Group revenues of US$16.5 billion. WPP recently raised its targets from 35-40% for each of fast-growth markets and new media to at least 40-45% each, over the next five years.