WPP’s Millward Brown to acquire market research agency Daedalus
Advertising heavyweight WPP has announced that Millward Brown, its brand, media and communications research subsidiary, has agreed to buy Romanian market research agency Daedalus.
Touted as a means of expanding Millward Brown’s footprint to fast growing markets in central and Eastern Europe the move will grow WPP’s current stable of 400 employees, who between them generate revenues of $30m annually.
The Bucharest based business has the largest fieldwork centre in the country, employs 110 people and boasts a client list which includes Diageo, Orange, Pepsi, Unilever and Vodafone.
Daedalus reported unaudited revenues of €3.5million for the year to 31 December 2013.