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WPP Subsidiary Acquires Mongolian Agency


Posted: 19th September 2014 10:25

Advertising, media and communications giant WPP on Friday said its subsidiary Y&R Advertising has acquired Mongolian creative agency MCS Holding LLC.

The agency will change its name to Y&R Mongolia and affiliate its business to WPP's global research consultancy TNS.

It also said it will be the first ad network to establish a majority-owned agency office in Mongolia, where the economy is forecast to grow at 9.5% this year and 10% in the following year according to the Asian Development Bank.

WPP expects to raise its revenues by 45% in the next five years by investing in fast-growth markets and new media.

The group said it generates revenues of $5bn in the Asia Pacific region, where it employs half a million people.

Source: Sharecast.com 

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