Aegis Group, which has agreed to be acquired by Asia’s biggest agency holding company, Tokyo-based Dentsu, continues its own expansion into Asia, announcing a deal this morning that will dramatically accelerate its iProspect network across China. The deal includes a majority stake in a new joint venture with China’s Beijing Adsit Technology Co. to form iProspect China.
The JV, which will integrate “performance marketing” services of Adsit with Aegis’ existing iProspect network, will form an organization with 60 people and offices in both Shanghai and Beijing.
Terms of the deal were not disclosed, but the companies said iProspect China would have “gross assets” of about $4.7 million.
Aegis Media Asia Pacific CEO Nick Waters said the combined scale would put iProspect China “well ahead of our peer group of multinational competitors who have not yet addressed the explosive growth of commerce in the market.”
The deal comes days after Aegis announced a deal to acquire Beijing-based digital agency Catch Stone Advertising, and weeks after it announced a deal to expand its iProspect network in France, as part of a deal to acquire digital marketing services group W Garden in the Western European market.