IPG Acquires Brazilian Agency
Interpublic Group on Thursday announced the acquisition of Brazilian-based new media agency CUBOCC. Financial terms of the deal were not disclosed.
CUBOCC will remain a stand-alone unit that will be expected to partner with agencies throughout Interpublic, as well as service and seek out its own clients. The firm will continue to be led by its founding partner, Roberto Martini.
Headquartered in São Paulo, CUBOCC is known for its creative strategy and production capabilities across various forms of digital media. Founded in 2004, it has quickly grown to employ 106 associates.
Major multinational clients include Unilever, for which it manages regional as well as global projects. Along with WPP and Omnicom, Interpublic is one of Unilever's three big incumbent holding company partners.
"The relationship will help expand CUBOCC's ability to service clients anywhere in the world," said Roberto Martini, CEO and chief creative officer of CUBOCC. "We look forward to collaborating with IPG."
Last month, Interpublic reported an 8.2% decline in organic revenues for the fourth quarter, and a 10.8% drop for full-year 2009.
The expected declines reflected the continuing drag that the global economic recession has had on the ad industry, noted Interpublic chairman and CEO Michael Roth.
Still, said Roth, "Economic conditions appear to have stabilized," while marketers were "beginning to refocus on their brands and the tone of the business is one of cautious optimism."
Prior to founding CUBOCC in 2004, Martini co-founded AG2 (CRP Venture Capital), RAGE (Prax Holding) and Santa Transmedia Productions.
During his career, Martini has worked with clients such as Nike, Johnson & Johnson, Nokia, AmBev, and Toyota.