The acquisition includes Blue's wholly-owned search subsidiary, Demand.
Jay Shapiro, Blue’s CEO and strategy officer, said: “There are no plans for us to merge with any of the other WPP networks. We will continue to run as an independent global network.”
He added: “It’s an entrepreneurs dream to start something and for it to be recognised as a great asset. I’m staying on at Blue, and look forward to using WPP’s resources to give us even greater reach as we continue to grow.”
He declined to reveal what WPP paid for the acquisition.
Founded in 1999, Blue employs 131 people and is based in Singapore, with offices in Beijing, Shanghai, London and Palo Alto in California. Clients include Hewlett Packard, SAP, Johnson & Johnson, Procter & Gamble, Singapore Airlines and Intercontinental Hotels.
Blue’s unaudited revenues for the year ended 31 December 2006 were SG$11.1 million, with gross assets at the same date of SGD 6.15 million.
