WPP has acquired 70% of F.biz Ltda., the largest independent digital advertising agency in Brazil.
The São Paulo based agency was founded in 1999 and has enjoyed annual growth rate of nearly 50% since then. The agency employs 200 people and services clients such as Unilever, Campari, Itaú, Vivo and NetShoes.
F.biz’ managing partners, Barradas, Marcelo Castelo, Marcello Hummel, Paulo Loeb, Pedro Reiss and Roberto Grosman, will remain in their current positions.
This acquisition of the leading independent digital agency in the dynamic Brazilian market is central to WPP’s overall strategy of expanding its capabilities in the digital, direct and interactive disciplines and strengthening its presence in faster growing markets. Collectively, including associates, the Group employs over 4,500 people in Brazil, WPP’s eighth largest market, generating revenues of over R$1.1 billion.
USA, Washington DC & Brazil, São Paulo
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