Aegis acquires Chinese shop for digital network Isobar
LONDON - Media and market research group Aegis has acquired Chinese digital marketing company World Wide Integrated Net Solutions to become part of Isobar, the group's recently launched digital network.
WWINS was founded in 1999 and offers services such as website creation, interactive marketing and eCRM services for clients such as HSBC, KFC Coca-Cola and MasterCard in Taiwan and China. For the year ended December 31 2003, the company had revenues of around $2.1m (£1.1m).
The initial purchase price is $3.6m, payable on completion of the deal. There is also a deferred cash consideration payable over four years of up to $5m, which is subject to performance criteria.
Doug Flynn, chief executive of Aegis, which owns media agencies Carat and VIzeum, said: "The acquisition of WWINS now helps Isobar to expand its presence in the fast-growing markets of Asia Pacific."
News of the Isobar's launch broke last week, with the network aiming to bring all of Aegis' digital assets under the one umbrella brand.
Isobar will operate in 19 markets with billings of around $500m, with 45% of that coming from the online media operations of Carat Interactive, which has more than 20 offices around the world. It will be headed by Nigel Morris, who takes the role of president of Isobar.
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