Hanoi – WPP and Smart Media today held a ceremony in Hanoi to announce WPP's plans to take a 20% stake in Smart Media JSC, one of the fastest growing communications groups in Vietnam.
Smart Media was established in February 2008 with the mission of leading Vietnam's efforts to develop and build the nation's communications industry. Smart Media was founded jointly by key government bodies: Vietnam Posts and Telecommunication Group (VNPT), Vietnam Television (VTV), Vietnam Mobile Telecom Services Co. (VMS), and Vietnam Post Corporation (VNPost) as well as the privately owned GoldSun.
Vietnam, with a population of 86-plus million and GDP growth rate of 6.23% in 2008, is one of the fastest growing markets in the world. The country's advertising market is forecast to grow 16.6% in 2009 to US$681 million, according to WPP's GroupM unit.
"The investment in Smart Media clearly demonstrates WPP's commitment to Vietnam and digital Media. This venture will generate multiple opportunities for WPP companies operating here," Scott Spirit, Director of Strategy, WPP Digital, Asia-Pacific, commented.
Smart Media has operations in Hanoi and Ho Chi Minh City and employs 35 people. Smart Media's key clients include VNPT, Mobifone, Vinaphone, Vietnam Mobile and VNPost. Smart Media provides a broad range of marketing, communications and multimedia services in Vietnam with a focus on advertising, TV production, internet and mobile services, Contact center and digital content.
On behalf of WPP, JWT Vietnam, which has been operating in Vietnam since 1995, will act as the portal allowing Smart Media to access talent, resources and clients from across WPP agencies.
One of the world's leading marketing communications groups, WPP has long pursued a strategy of investing in faster growing markets. In 2008, GroupM took stakes in three subsidiaries of the DatvietVAC Group Holdings. Other WPP companies operating in Vietnam include Bates141 and Ogilvy.
WPP is a world leader in marketing communications services, comprising leading companies in Advertising, Media Investment, Management Information, Insight & Consultancy Public Relations & Public Affairs, Branding & Identity Healthcare Communications Direct, Digital, Promotion and Relationship Marketing Specialist Communications. The Group employs more than 100,000 people (including associates) working in over 2,000 offices in 106 countries.
WPP companies work with over 340 of the Fortune Global 500, over one-half of the NASDAQ 100 and over 30 of the Fortune e-50. WPP is quoted on the London Stock Exchange and NASDAQ in New York (WPPGY). WPP reported revenues of US$ 12.4 billion as at December 2007.
Smart Media was established in February 2008 and is operating in Hanoi and Ho Chi Minh City. Founded jointly by leading communications groups & telecommunications groups based on the convergence of telecommunication, communication & information technology, Smart Media is aimed at providing new total solutions for multimedia services.
Smart Media provides services in Advertising, New media advertising (internet & mobile), TV & Radio programs, Digital contents, Online payment & e-commerce on mobile & internet, Contact center & Marketing center & Direct mail.