WPP PLC on Monday said it bought Sao Paulo, Brazil-based e-commerce agency Corebiz for an undisclosed sum.
Corebiz employs around 600 people across Latin America and counts US retailer Walmart Inc, French sports retailer Decathlon SA and New York-based cosmetics firm Estee Lauder Co amongst its clients.
‘Over the last few years, we have actively participated in the acceleration of the ecommerce market in Latin America. Now, our goal is to take this expertise to the rest of the world,’ said Corebiz Co-Founders & Co-Chief Executive Officers Felipe Macedo and Renan Mota in a press release.
The acquisition will strengthen the commerce ‘expertise’ of London-based communications firm WPP, its country manager for Brazil, Stefano Zunino, said.
WPP shares were 0.8% higher at 805.20 pence each in London on Monday morning.
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