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WPP purchases digital ad agency

WPP Plc, the world's largest advertising company, is adding to its network in China, buying a digital ad agency as part of an expansion strategy. WPP purchased IM2.0 through its VML operating company, which is part of the Young & Rubicam network, WPP said in a statement on Tuesday. "IM2.0 is one of China's leading and most successful pure-play digital agencies," WPP said in the statement, noting the Mobile Marketing Association named it "agency of the year" in China this year. China is WPP's third-largest market (behind the United States and United Kingdom) with revenue, including associates, of $1.4 billion and about 14,000 employees.

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