Aegis Buys Into Hungary

Aegis Group, owner of the Isobar agency network, has acquired Hungarian interactive agency Kirowski Rt.

The purchase price is as high as $12 million, depending on financial performance over a period of four years. The agency will be part of holding company Isobar, which also contains Carat Fusion, iProspect and numerous other digital services holdings around the globe.

Kirowski, founded in 1996 and based in Budapest, offers marketing services, media planning and e-commerce functionality to a roster of clients that includes Hungarian Telekom, Nestle and Renault.

“The acquisition of Kirowski is consistent with Aegis’ strategy of building Isobar into the leading international digital network,” said Aegis CEO Robert Lerwill. “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,” he added.

Aegis is itself the target of a possible acquisition by Publicis, whose holdings include media gorilla Starcom MediaVest.

Related reading