WPP's GTB acquires Zubi Advertising Services

WPP’s wholly-owned full-service agency GTB has acquired Zubi Advertising Services, which focuses on the Hispanic market in the US, for an undisclosed sum.

As of the end of December, Zubi's unaudited net revenues were $18.9m and its clients include Ford, JP Morgan Chase Bank, N.A. and Dunkin' Donuts. Founded in 1976, the company employs around 120 people and is based in Coral Gables, Florida, with offices in Los Angeles and Detroit.

WPP said the acquisition continues its strategy of investing to strengthen its "horizontality" offer to clients by enhancing the capabilities of its global account teams, such as GTB, and in important markets such as the US.

WPP currently has 48 account teams, representing over one third of the group’s $19bn in revenues, with over 38,000 employees working on these clients.

In the US, WPP companies including associates and investments collectively generate revenues of more than $7bn and employ over 25,000 people.

At 1250 GMT, the shares were up 0.6% to 1,847.00p.