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WPP Buys Into South Africa's Smollan
WPP has agreed to acquire a 33% stake in Smollan Group, a Johannesburg-based provider of field marketing, market intelligence, customer contact and brand activation services.
Smollan, which employs more than 12,000 people, also operates in India and other African countries, and has strategic alliances in Europe, North and Central America, Asia and Australasia.
In the year ended 28 February 2008, the group's revenues in South African Rand totalled R 847m (£48.1 million) - on this date assets were valued at R 284m (£16.1 million). The acquisition is subject to regulatory approval.
Only yesterday, WPP took a controlling stake in Danish sales and brand modelling firm Data Intelligence via its MediaCom network.
Web sites: www.smollan.co.za and www.wpp.com .
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