Isobar Boosts Eastern European presence with Agency Buy
Aegis-owned Isobar announced yesterday it has augmented its Eastern European presence with the acquisition of full-service Russian digital agency AdWatch.
The agency will extend Isobar's existing Eastern-European presence, which includes major hubs in Poland and Hungary.
Headquartered in Moscow, AdWatch offers strategic planning, buying, creative services, online PR, as well as site design and building. Current clients include Microsoft, Canon and VTB Bank.
"Central and Eastern Europe is one of the fastest growing markets on the continent, making it a key growth region for us," Isobar CEO Nigel Morris told ClickZ News.
According to Aegis' internal estimates, the Russian online ad market is expected to grow by over 50 percent year over year in 2008 and 2009. ComScore also reported a 25 percent increase in Russian users in the year ending April 2008.
Morris believes the AdWatch acquisition will give Isobar an instant 20 percent share of the digital marketing sector in Russia. Isobar's global digital network will incorporate AdWatch's $14.8 million in assets and 76 member staff to serve both local and international clients.
In reference to further plans for Isobar expansion, Morris said, "We will continue to look for high quality opportunities in the region." The sum of the transaction was undisclosed.
