Kantar Media buys Chinese social media researcher CIC

The deal remains subject to regulatory approval.

CIC operates from offices in Shanghai and Beijing, offering social media and online word-of-mouth intelligence services. The firm, which was set up in 2004, employs 120 staff and works for clients including L’Oreal, Pepsi, Dell, Nike and Burberry.

For the year ended 31 December 2011, CIC posted revenues of approximately RMB29.9m with gross assets of RMB22.4m at the same date. Terms of the deal were not disclosed but WPP said the deal reflected its strategy of developing services in “fast-growing and important markets and sectors”.

The acquisition will complement Kantar’s existing activities in China, which cover the retail, health, brand, innovation and custom research sectors.