WPP invests in Brazilian digital agency Enext

WPP said on Tuesday that its wholly-owned global advertising agency, J. Walter Thompson Company, has bought a majority stake in Brazilian digital agency Enext, which specialises in e-commerce and Icloud marketing solutions.

For the year to the end of December 2016, Enext generated revenues of 10.4m Brazilian reals. Clients include Ambev SA, Arezzo, Mondelez International, Multiplus SA, Novartis AG, Restoque SA and Sephora. Founded in 2008, the company is based in São Paulo and employees 120 people.

Enext specialises in consulting, platform development and managing digital initiatives for clients in Brazil and WPP said its offers "a unique portfolio of services" through the development of digital journeys for consumers to the creation and activation of digital campaigns, the optimisation of transactions and the development and monitoring of client relationship models.

WPP said the investment continues its strategy of investing in faster growing sectors such as digital and e-commerce and important markets like Brazil.

In 2016, the group's digital revenues were over $7.5bn, representing 39% of total revenues of $19.4bn. WPP intends for 40-45% of revenue to be derived from digital in the next four to five years.

At 1510 BST, the shares were up 3.2% to 1,336p.