Dentsu's acquisition of Aegis Media has been completed and the company has created Dentsu Aegis Network to oversee global operations outside of Japan.
The merged entity now forms Asia Pacific's largest agency group. Dentsu flagged its intentions to acquire Aegis in July last year.
The Dentsu Aegis Network has been formed to group all of Aegis Media companies including Isobar, Carat, iProspect, Vizeum and Aztech globally. It will also oversee Dentsu Network's operations outside of Japan.
Dentsu Inc senior vice present and Dentsu Network chief executive Tim Andree has been elevated to Dentsu Aegis Network chairman and Aegis Media chief executive Jerry Bulhmann remains as chief executive of Aegis Media and also takes on the position of chief executive of Dentsu Aegis Network.
Dentsu Network and Aegis Media will continue to operate as separate entities but will governed by the Dentsu Aegis Network management team and board of directors.
Dentsu president and chief executive Tadashi Ishii said: “We are delighted that this transformative deal has been completed. The addition of Aegis represents a massive step toward realising our vision of a client-centric, collaboration global network of the best-in-class brand, digital and media agencies.
“We look forward to the value this will add to our clients' businesses, wherever they may be, and look forward to growing with them as their partner of choice.”
Andree said: “I am very happy to welcome Jerry Buhlmann, the executive team, and all the employees of Aegis Media worldwide to Dentsu. This is called the 'closing' of the deal but it really is the beginning. Our complementary geographic and product portfolios, as well as the strong positive chemistry that is rooted in our shared values, can only result in more and better ways to collaborate and serve our respective clients and their businesses around the world.”
Bulhmann added: “In joining forces with Dentsu, Japan's leading advertising group, we have created the world's first truly global communications network with the ability to deliver integrated and specialist services that add real value to our clients' businesses, in a transforming market. We are looking forward to working with our new colleagues at Dentsu.”
The board of Dentsu Aegis Network includes Ishii, Andree, Shoichi Nakamoto, Kuni Matsushima and Nicholas Rey. The board has added from Aegis, Bulhmann, Nigel Morris, Nick Waters, Nick Proday and Valerie Scoular.
Aegis Media bought out Australia's Mitchell Communication Group in 2010 in a deal worth $363 million.
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