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(Alliance News) - S4 Capital PLC on Monday said its content practice MediaMonks will merge with Shanghai-based creative agency Tomorrow.
Tomorrow was founded in 2015 and counts Burberry Group PLC, Budweiser, Coca-Cola Co, Starbucks Corp, Crocs and Red Bull in its list of clients.
The London-based digital advertising firm stated the merger expands MediaMonks' existing capabilities and presence in China, highlighting the country as the world's second largest advertising market.
It noted that Credit Suisse's China Internet Sector 2021 Outlook estimated the Chinese online advertising market is worth over USD107 billion and is predicted to grow 18% in 2021.
"I've always been a raging bull on China's economy, its consumers and its brands. I'm delighted to welcome Rogier and his colleagues at Tomorrow to the S4Capital family, in what is a priority market for us and one of several more moves in what will become the largest economy in the world," said S4 Chair Martin Sorrell.
Shares in S4 Capital were trading 1.6% higher at 508.00 pence each on Monday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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