WPP digital marketing company VML has acquired IM2.0, the Chinese digital advertising and media agency.
The deal, subject to regulatory approval, will see the agency become part of the Y&R network, the umbrella parent for VML, as WPP continues to build its digital capacity within fast-growth markets.
IM2.0 was established in 2008, employing 230 people across Beijing and Shanghai who work with clients such as Haier, Mondelez, Adidas and Dell.
WPP recently increased its targets for fast growth markets and new media from 35-40 per cent to at least 40-45 per cent over the coming five years. The company's digital revenue came in at over $5bn in 2012, representing 33 per cent of total group revenue.