AGS20 Jul 2012 08:34
Aegis to acquire leading Chinese digital agency, Catch Stone, for initial consideration of £55.2m
Aegis Group plc ("Aegis"), the world's leading, focused media and digital communications group, today announces that it has signed a definitive agreement to acquire Beijing Catch Stone Advertising Co., Ltd and the business of Shanghai Catch Stone Culture Media Co., Ltd (collectively referred to in this announcement as "Catch Stone"), an established full service digital media and marketing agency in China, for an initial consideration of RMB 550 million (£55.2 million).
Catch Stone is an established digital agency in China. Its capabilities include digital media planning and buying as well as a range of digital marketing services in areas including creative origination and social media. Catch Stone is a leading media buying agency operating across China with a particular specialism in the automotive and financial services sectors. It has a strong mix of multi-national and local clients in these sectors, including Audi, Nissan, Saic GM Wuling (SGMW), Industrial Bank and Inoherb. Catch Stone was formed in 2002 and now employs over 130 people in Beijing, Shanghai and Guangzhou.
With Catch Stone, Aegis Media will have a strengthened position in digital media planning and buying in China, one of the world's fastest growing advertising segments. The acquisition of Catch Stone is in line with Aegis's strategy of targeting acquisitions with a specific focus on digital businesses and faster-growing regions. Catch Stone will form a separate network brand for Aegis Media in China, working alongside Aegis's other network brands of Carat, Vizeum, Isobar, iProspect and Posterscope.