Group Press Releases
Aegis Acquires Asia-Pacific Interactive Agency For Newly Launched Digital Network - Isobar
14 July 2004
Aegis Group plc ("Aegis" or "Group") - the media communications and market research group –announced today the acquisition of the Greater China digital marketing company, World Wide Web Integrated Net Solutions (WWWINS). The business will become part Isobar, the Group's recently launched digital one-to-one network.
Founded in 1999, WWWINS has built a successful business in Taiwan and China including website creation, interactive marketing and eCRM services for blue chip clients such as HSBC, KFC, Coca-Cola, TransAsia Telecom, Pioneer, MasterCard, Nokia, Sony, Kimberly Clark and Avon. Since its creation, WWWINS has grown rapidly and for the year ended 31 December 2003 had revenues of approximately US$ 2.1 million.
The purchase price is composed of an initial consideration of approximately US$ 3.6 million, payable in cash on completion. There is also deferred cash consideration payable over 4 years, up to a maximum of US$ 5.0 million, subject to rigorous performance criteria.
Commenting on the announcement, Doug Flynn, Chief Executive of Aegis said:
"We have been building our interactive marketing group over the last six years and brought it together under the Isobar brand on July 5, 2004 with 25 offices throughout Europe and the US. The acquisition of WWWINS now helps Isobar to expand its presence in the fast growing markets of Asia-Pacific.
WWWINS has an excellent reputation in the interactive space and has won many awards for its use of digital media to enhance brand value and customer loyalty. This reputation has helped the business to attract some the world's best-known marketers as clients. We look forward to working with WWWINS and to build further on the strong foundation it provides us in Taiwan and China."
For further information contact:
Richard Walters
Aegis Group plc
+44 (0) 20 7070 7700
Tim Spratt
Financial Dynamics
+44 (0) 20 7831 3113
