WPP to buy Taxi
WPP is in the process of acquiring Montreal-based Taxi. The agreement includes the five Taxi offices in Canada as well as its offices in New York and Amsterdam. Taxi will become part of the Young & Rubicam roster of agencies. Paul Lavoie will retain his position of chairman, while Rob Guenette will serve CEO of Taxi. "Taxi is a fantastic addition to our group," said Peter Stringham, chairman and CEO of Young & Rubicam Brands. "It will fit perfectly with the 30 companies at Young & Rubicam Brands that span the marketing communications spectrum offering another exciting dimension to create innovative integrated solutions. We also believe that their strong client roster will benefit from the wide range of resources and talents at Young & Rubicam Brands." No financial details are available.