Aegis has acquired Hungary’s leading digital agency, Kirowski Rt; for a total cash consideration of up to €10 million, payable over four years.
Kirowski will become part of the media communications company’s digital network, Isobar, bringing with it an impressive client list, including, Hungarian Telekom MOL Group, Nestle and Renault. The agency provides clients with a wide range of digital marketing services, including interactive marketing, digital media planning & buying, as well as e-business solutions and business applications.
Commenting on the acquisition, Robert Lerwill, chief executive officer of Aegis said: “‘The acquisition of Kirowski is consistent with Aegis’ strategy of building Isobar into the leading international digital network.”
He continued: “With Kirowski’s strong market position and comprehensive skill-set we shall be able to provide clients with an exceptional service capability in the fast growing Hungarian market. We welcome the highly talented Kirowski team to the Isobar network.”
This summer Aegis purchased digital creative agency, glue, for £14.75 million, further strengthening Isobar (see Aegis Buys Digital Creative Agency Glue).
In its latest annual general meeting, Aegis revealed that Isobar was responsible for 13% of media revenues in the first quarter of 2005, on the back of a global trend seeing advertisers allocating budgets away from conventional media towards interactive and out of home media (see Aegis Positive Despite ‘Patchy’ European Ad Growth).
The group also showed that trading for the year to date was in line with expectations, with revenues for the first quarter up 12.5% year on year and organic revenue growth up 5.8% compared with 4.8% in 2004.
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