WPP announced Friday that its wholly-owned operating company, Possible Worldwide, the global interactive marketing agency that is part of WPP Digital, has acquired a 70% stake in Grïngo Publicidade Ltda (Grïngo), a leading digital agency in Brazil.

The acquisition comes just a day after WPP, the world’s largest communications services group, announced that it has acquired 70% of F.biz Ltda., the largest independent digital advertising agency in Brazil.

Founded in 2006, Grïngo is based in São Paulo and employs 65 people. Clients include Coca-Cola, Absolut Vodka, Microsoft and Itaú Unibanco, one of Brazil’s largest banks. Gringo is one of the southern hemisphere’s most awarded agencies winning more than 40 in the last three years for its cutting-edge creativity, including three Cannes Lions.

Grïngo’s unaudited revenues for the year ended 31 December 2010 were R$10.4 million, with unaudited gross assets at the same date of R$3 million.

This acquisition of a leading digital agency in the dynamic Brazilian market is central to WPP’s overall strategy of expanding its capabilities in the digital, direct and interactive disciplines and strengthening its presence in faster growing markets. Collectively, including associates, the Group employs over 4,500 people in Brazil, WPP’s eighth largest market, generating revenues of over R$1.1 billion.

Based on the last two years’ billings figures, WPP’s full-service agency networks rank one, two and three in Brazil, and as a Group, WPP ranks number one by a considerable distance with billings in 2010 of nearly R$11 billion.

WPP Digital is the digital investment arm of WPP, the global communications services company. Its remit is to act as a catalyst for change within the Group in the digital media space. Its prime goal is to champion digital technologies and new media innovations and to stimulate, support and enhance existing Group company activities in this area.

Activities include identifying acquisitions/partnerships/investments, funding start-ups, establishing training programs and instigating cross-Group knowledge sharing forums
F.biz Ltda is a São Paulo based agency founded in 1999 and has enjoyed annual growth rate of nearly 50% since then. The agency employs 200 people and services clients such as Unilever, Campari, Itaú, Vivo and NetShoes.

The Brazilian investments allow WPP to offer the best and most complete service to clients. The company’s focus is on strategic brand positioning and its intention is to offer new models in the communications market.