Syzygy acquires half of German digital agency GFEH
LONDON - Interactive agency Syzygy, which is part owned by WPP Group, has acquired a 51% stake in Hamburg-based digital agency Gesellschaft fur elektronischen Handel.
Syzygy said it was bolstering its European presence by acquiring half of GFEH, which specialises in search engine marketing and optimisation, and online media planning and buying.
GFEH was founded in 2003 and its clients includes a number of companies in the financial, retail and travel service industries, including .comdirect Plus and Travelchannel.de.
Gareth Phillips, managing director of Syzygy UK, said: "The acquisition of GFEH means we can offer clients best-in-class search expertise with a dedicated division. It strengthens our full-service offering following a wave of consolidation in the market.
"GFEH has shown strong, profitable growth in recent years and will add enormous value for our clients, shareholders and staff alike."
Syzygy employs 200 staff worldwide, with 75 based in its London office. The agency's UK clients include Channel 4, Ernst & Young, London 2012, Mercedes Benz and Royal Mail.
Syzygy's share acquisition will be backdated to November 1 2006, and it has agreed with GFEH to keep the purchase price confidential.
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