Aegis expands Eastern European presence with €10m digital acquisition

by Jennifer Whitehead, Brand Republic 04-Oct-05

LONDON - Aegis Group is expanding its Eastern European presence with the €10m (£6.8m) acquisition of Hungarian digital agency Kirowski, which will become part of the Isobar network.

Kirowski is the largest full-service digital agency in Hungary, founded in 1996 and counting among its clients T-Mobile, Nestle and Renault. It offers services including digital media planning and buying and interactive marketing, and it has a 25% share of the Hungarian online ad market.

The news comes as Aegis itself is the subject of a possible takeover bid by French advertising company Publicis Groupe. Its shares are also being bought up rapidly by the French corporate raider and Havas chairman, Vincent Bollore, who has said he sees Aegis as a short-term investment.

Aegis CEO Robert Lerwill said: "The acquisition of Kirowski is consistent with Aegis' strategy of building Isobar into the leading international digital network.

"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."

The €10m price Aegis has agreed for Kirowski is payable over four years and subject to performance criteria.

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