Media and communications group, Aegis has announced plans to purchase an initial 52% equity stake in Russian media company, Komandarm, trading under the name Vizeum Russia, with the agreement allowing Aegis to acquire the outstanding equity by 2009.
Commenting on the deal, Robert Lerwill, chief executive officer of Aegis said: “Komandarm has acted as an affiliate agency for some time now and bringing its ownership into the Group will now enable full participation in the Vizeum network.”
He continued: “We look forward to working with the management team which has vast experience in helping clients to establish their brands in the fast-growing Russian market.”
The acquisition of Komandarm brings with it a number of local and international clients, including Alfa Bank, Bridgetown Foods, Eldorado, Heineken and JTI.
Yesterday Aegis announced that it had bought Irish advertising firm, Brindley Media Group, for a maximum total consideration of €12 million (see Aegis Buys Irish Advertising Group).
In its trading statement published last month, Aegis, reported a 14% increase in revenue for the six months to June 30th, reaching £389.0 million, up from £338.9 million this time a year ago (see Aegis Reports 14% Increase In Revenues For First Half Of 2005).
Half-year profit for the group rose to £35.6 million from £35.4 million a year earlier, helped by strong growth in its market research business, Synovate which increased revenues by nearly 18%. Aegis’s digital network, Isobar, also enjoyed a healthy first half to the year, seeing revenues rise by 20%.