The move is expected to benefit both parties. “All the agencies were after it,” said a source. “But (Agenda CEO) Steve Hsia wanted to maintain freedom and its own identity.” It is though that other WPP agencies, including Ogilvy, JWT and GroupM were all interested in an agency that is considered the last true regional digital independent.
Wunderman, meanwhile, will be hoping that the buy revives its flagging regional presence. Agenda’s revenues for the year ended 30 June 2007 were US$9.2 million, with gross assets at the same date of US$6.2 million.
In acquiring Agenda, Wunderman expands its Asian footprint by more than 40 per cent.
