WPP, the world’s largest communications services group, announced Thursday that it has acquired 70 per cent of F.biz Ltda., the largest independent digital advertising agency in Brazil.

The São Paulo based agency was founded in 1999 and has enjoyed annual growth rate of nearly 50 per centsince then. The agency employs 200 people and services clients such as Unilever, Campari, Itaú, Vivo and NetShoes.

F.biz’ CEO Gal Barradas noted that by taking this stake in the company, WPP will enable F.biz to offer the best and most complete service to clients. According to Barradas, F.biz’ focus is on strategic brand positioning and the company’s intention is to offer new models in the communications market.

F.biz’ managing partners, Barradas, Marcelo Castelo, Marcello Hummel, Paulo Loeb, Pedro Reiss and Roberto Grosman, will remain in their current positions.

This acquisition of the leading independent 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 is the world’s largest communications services group with billings of $66 billion and revenues of approximately $15 billion.

Through its operating companies, the Group provides a comprehensive range of advertising and marketing services including advertising; media investment management; consumer insight; public relations and public affairs; branding and identity; healthcare communications; direct, digital, promotion and relationship marketing and specialist communications.

The company employs over 146,000 people (including associates) in 2,400 offices in 107 countries.

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.