WPP, world's leading marketing communications group, acquires stake in Smart Media

WPP plans to acquire a 20-per cent stake in one of the fastest growing communications groups in Vietnam, Smart Media JSC.

Smart Media was established in February 2008 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, to lead Vietnam's efforts to develop and build the country's communications industry. Smart Media was .

Tuan Anh, CEO of Smart Media, said, "The communication landscape in Vietnam is evolving rapidly. In fact, we can talk of a seismic shift towards new channels and digital technologies. It is important for us to combine our local technology and distribution experience with the expertise of a world leader in marketing communications. As such WPP has clearly demonstrated its value to the group."

With a population of 86-plus million and a GDP growth rate of 6.23 per cent in 2008, Vietnam is one of the fastest-growing markets in the world. The country's advertising market is forecast to grow 16.6 per cent 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.