GroupM Gets Social, Buys Vocanic
WPP’s media arm GroupM has agreed to acquire a majority stake in Vocanic the Singapore-based social media marketing agency.
Established in 2005, Vocanic has 70 people providing social media strategy consulting, social technology, social media program and campaign management, community management and social media analytics.
At the UBS media conference in New York Monday WPP CEO Martin Sorrell hinted that the acquisition was coming, along with a second deal for another social media shop before the end of the year.
Sorrell said the deals illustrate the company’s ongoing acquisition strategy of buying smaller firms that help round out its capabilities in new media, data management and growth markets around the world. WPP has made over 60 acquisitions so far this year, Sorrell said.
In addition to its Singapore headquarters, Vocanic has offices in Malaysia, Indonesia and Thailand. For the year ending 31 December 2012, Vocanic's revenues were $3.4million, the holding company said. Collectively, WPP companies (including associates) in Singapore, Malaysia, Indonesia and Thailand generate revenues of $700 million and employ over 6,000 people.
Vocanic’s client list includes StarHub, Axis, EDB, SAP, Astro, Unilever, Dell, Symantec, Mead Johnson, Danone, WingTai Retail, MHD, and Standard Chartered Bank.