WPP PLC : WPP : GroupM Buys Alchemedia for Undisclosed Sum
07/02/2012| 02:36am US/Eastern
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.
-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 email@example.com