WPP said it regarded this decade as very much the decade of Latin America, particularly with the FIFA World Cup taking place in Brazil in 2014 and the Olympics in Rio in 2016.

WPP, a UK-based advertising and marketing services company, has invested $70m in Argentina-based information technology services company Globant.

WPP will hold 20% of Globant. Previous investors, venture capital firms Riverwood Capital and FTV Capital, continue to hold equity stakes in Globant having invested $13m in December 2008 and a further $15m in March 2011.

Sir Martin Sorrell, WPP chief executive, said: “Increasingly, clients want better coordination between their IT departments and their marketing departments, between their Chief Information Officers (CIOs)…