NEWS6 January 2016

Grey Group acquires majority stake in Vinyl-l

Asia Pacific M&A News

SOUTH KOREA — WPP’s wholly owned company Grey Group, a global communications network, has acquired a majority take in Vinyl-l, a creative digital agency based in Seoul.

Vinyl-l was established in 2000 and has evolved from a web/ UX design agency to a full service digital advertising agency. The agency employs more than 70 people and its clients include Intel, L’Oreal, Microsoft and Nike.

Vinyl-l reported gross revenue of KRW 12.8 bn (£7.3m) for the year ending 31 December 2014. Terms of the deal have not been disclosed.