WPP Buying Two Brazilian Digital Agencies

WPP CEO Martin Sorrell is on record as saying his growth is all about the internet and the BRIC countries this year.

Now he’s combining the two, in yet another acquisition.

The advertising giant is buying two Brazilian online agencies – digital marketer Midia Digital and search marketing house I-Cherry.

They’re each 15 years old. Midia employs 91 and counts HSBC and J&J amongst its clients, I-Cherry employs 34 and numbers Petrobros and Terra on its client list.

WPP says combined revenue were $5.3 million in December, gross assets $1.5 million.

Publicis recently bought a five percent stake in Brazilian ad agency Taterka.

For WPP, digital made up 27 percent of its 2010 revenue.