Dentsu Aegis Network has agreed to acquire a 70% stake in the Philippines-based JaymeSyfu Group with an option to acquire 100% at a later date. It’s second acquisition by Dentsu of a Philippines agency this month. Terms weren’t disclosed.
Founded in 2005, JaymeSyfu Group comprises three agencies: full-service creative agency DM9 JaymeSyfu, digital creative agency Digit DM9 Interactive and brand activation specialist agency DNA. The group had revenues of about $3.5 million in 2014.
JaymeSyfu ended its relationship with Omnicom’s DDB in the market to make the deal with Dentsu Aegis according to Campaign Asia.
Headquartered in Makati City, JaymeSyfu will be merged with ad agency Dentsu Philippines, and rebranded Dentsu JaymeSyfu.
The Philippines is seen as an emerging growth market by many marketers. It’s the sixth largest ad market in the Asia-Pacific region after China, Japan, Australia, Korea and Indonesia, according to Carat, the Dentsu-owned media agency.
Carat estimates that expenditures there grew nearly 13% this year and are expected to increase another 10%-plus in 2015 and more than 12% in 2016.