WPP announces that its wholly-owned global digital agency VML, part of the Young & Rubicam Group, has agreed to acquire a majority stake in NATIVE, a leading South African digital marketing agency, subject to regulatory approval. The investment represents the latest step in VML’s global expansion. Following the transaction, the agency will become NATIVE VML.
NATIVE provides a full range of services including creative, design, technology execution, marketing analytics, digital media buying and social media management. The agency was formed in 2010 through a three way merger and employs 160 people in offices in Johannesburg and Cape Town. Clients include L’Oreal, Nedbank, Nestlé and Standard Bank.
NATIVE’s unaudited revenues for the year ended 28 February 2013 were approximately ZAR 80 million, with gross assets at the same date of approximately ZAR 39 million.
For the full story click WPP