Global market research group, Aegis, has this morning announced the acquisition of a 51% stake in one of Korea’s largest digital marketing company, Agency W, from its chief executive and sole owner, John Lyul Baik.
Agency W will become part of Isobar, the group’s recently launched digital network and becomes the third acquisition for Isobar in the past few months.
The purchase price is made up on an initial cost of £200,000, payable on completion, with deferred cash payments over the next four years of up to £2 million.
Chief executive of Aegis, Doug Flynn, said: “The acquisition of Agency W is consistent with our strategy of investment in the Group’s strong global networks. We were very impressed with the vision of Agency W and we welcome it to the Isobar network.”
In July, Aegis purchased Australian based marketing agency, One Digital, for £1.6 million, this also sits under the Isobar umbrella (see Aegis Acquires One Digital Marketing Agency).
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