WPP's Ogilvy & Mather has acquired a 49% stake in Beijing Raynet Advertising, an agency with clients such as China Netcom, Liaoning Mobile and Shanghai Xinjiegou.
Founded in 2001, the agency has offices in Beijing, Shenyang and Changchun and turned over RMB 37.3m (£2.42m) last year.
This acquisition follows four purchases this year, when WPP bought into media investment management agency Beijing Hua Yang Lian Zhong Advertising, independent marketing communications consultancy Beyond Communications, promotional and merchandising firm Always in Shanghai and South China Market Research.
China is one of WPP's fastest-growing markets, accounting for almost a third of the company's total Asia Pacific business. Chief executive Sir Martin Sorrell believes that China is a key territory for the group and will become the world's second-largest advertising market by 2008.
WPP's latest purchase comes hot on the heels of Bartle Bogle Hegarty's launch of an office in China in November. Headed up by CEO Arto Hampartsoumian, the former Wieden & Kennedy Tokyo managing director, the new outfit is based in Shanghai and will handle campaigns for brands such as Baileys, Bose and Johnnie Walker.
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