Kantar Media acquires Chinese social media company CIC
Kantar Media, part of WPP’s consumer insight arm, Kantar, has agreed to acquire CIC, a leading social media research and consulting agency in China, subject to regulatory approval.
WPP said in a statement: “The acquisition will facilitate new client offers through synergies between CIC’s data set and Kantar Media’s own data resources.
“This investment continues WPP’s strategy of developing its services in fast-growing and important markets and sectors. Greater China - a region WPP has been committed to for over 20 years - remains one of the fastest growth markets for the company, currently WPP's fourth largest market with revenues of US $1.1 billion in 2011.”
CIC, which helps clients to use the power of social media and Internet Word of Mouth, employs around 120 people and has a client list including L'Oreal, Pepsi, Dell, Nike and Burberry.
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