NEWS8 August 2013
Hong Kong — WPP-owned XM Asia has agreed to acquire a majority stake in digital technology agency Designercity.
Designercity specialises in building integrated digital solutions that seamlessly connect across all different devices and the investment is part of WPP’s stated aim to develop its businesses in the fast growing economies of Asia Pacific, as well as Latin America, Africa and the Middle East, Central and Eastern Europe.
The Hong Kong-based agency was founded in 1995 in London, and employs 108 people. It has unaudited revenues of HKD43.7m (£3.7m) for the year ended as at 31 March 2013, with total assets at the same date of HKD18.7m.
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