WPP buys stake in Brazilian marketing agency

Media agency WPP’s wholly-owned operating company Ogilvy has acquired a majority stake in Brazilian online social and content marketing agency 3yz Marketing Digital.

3yz, whose clients include RBS and Reebok, will be part of Ogilvy Group Brazil, which includes such operating companies as Ogilvy & Mather, 9ineSports & Entertainment, ETCO, Foster and Jüssi.

Ogilvy is a global marketing communications company.

WPP said the deal continues its “strategy of investing in fast growth sectors such as digital and its commitment to developing its strategic networks throughout the Brazilian market”.

The company’s digital revenues were $6.9bn in 2014, representing 36% of total revenues.

WPP has set a target of 40-45% of revenue to be derived from digital in the next five years.

At 1117 GMT, WPP shares were down 0.5% to 1,474p.