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International news: WPP buys into F.Biz

WPP has acquired 70% of F.Biz, described by the company as the largest independent digital advertising agency in Brazil. The São Paulo-based firm, founded in 1999, employs 200 people and services clients including Unilever, Campari, Itaú, Vivo and NetShoes. According to WPP, the acquisition is part of an overall strategy to expand its capabilities in the digital, direct and interactive sectors and to strengthen its presence in growing markets. "By taking this stake in our company, WPP will enable us to offer the best and most complete service to clients," said F.Biz CEO Gal Barradas. "Our focus is on strategic brand positioning and our intention is to offer new models in the communications market." No financial details are available.

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