Publicis Groupe today said it struck a deal to acquire Wangfan, a 61-person digital agency based in Shanghai.
"Wangfan is a superb agency with a talented and fast-moving team. They began as pioneers and they have kept moving ahead of the creative and technological wave in the ongoing digital boom. We're pleased to welcome them to our team in Shanghai," Jean-Yves Naouri, Publicis Groupe COO and chairman of China Publicis Groupe, said when announcing the deal.
Wangfan's clients include Puma, General Motors Shanghai, and other international and Chinese companies. The agency was founded in 1997. Wangfan will become part of Publicis Modem Shanghai, the digital arm of Publicis Shanghai. Wangfan CEO Bill Wang will become Publicis Modem Shanghai's managing director.
"We've been working on big digital campaigns for international and local clients for a number of years. Now that we'll be operating from within a major international communications group we can sharpen some new skills and put them at the service of our clients. It's a win-win move for all of us," Wang said in a prepared statement.
Publicis is aiming to double its size in the Chinese market between 2010 and 2012 by acquiring companies as well as organic growth. Over the past 12 months, Publicis acquired four other Chinese agencies: Genedigi (June), Dreams (May), Interactive Communications (February), and Eastwei Relations (November 2010).
Terms of the Wangfan deal were not disclosed. The deal is subject to approval by relevant authorities, according to Publicis.
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March 19, 2014