WPP acquires Chinese social firm Teein for undisclosed sum
WPP’s digital network VML has acquired Teein, a social media agency based in China, for an undisclosed sum.
The agency provides social listening, social marketing and social CRM and counts Danone, Estee Lauder, Google, Lenovo, SAP and Unilever among the clients on its roster.
WPP said that the acquisition marks a further step towards its goal of developing its networks in fast-growth markets and sectors.
Last year, Teein reported unaudited revenues of £4.3m (RMB 43.5m) for the year ending 31 December 2013, with gross assets of £1.3m (RMB 13.3m), as of the same date.
The acquisition comes after WPP set a target of 40-45 Read full story ›
Source: The Drum
