Media communications and market research company, Aegis Group, this morning announced that it has acquired an interest in a joint venture with Japanese agency Chuo Senko – a mid-sized Japanese agency network.
Chuo Senko recently set up its own media buying business called Chusen Media K.K. Aegis has taken a 49% stake in this and the acquisition provides Carat, Aegis’ media business, with a significant presence in Japan as well as strengthening its rapidly growing Asia-Pacific network, the company said.
Aegis has paid approximately £3.5 million for the non-majority stake in the joint venture. There is also a potential deferred payment which is subject to the performance of the business over the next three years.
The joint venture with Chuo Senko follows the recent acquisition of Japanese media planning specialist SPI (now Carat SPI) and follows Aegis’ strategy of developing its global media network.
Commenting on the acquisition Doug Flynn, CEO of Aegis, said: “This is a significant partnership for Carat as it opens further the door on the world’s second largest advertising market. The inexorable trend is towards more international and global media mandates and we are leveraging our position as the world’s leading media independent to grow with our clients around the globe. Japan is a major area of opportunity for our clients”.
