Aegis Media acquires Chinese out-of-home agency
LONDON - Aegis has acquired a majority stake in out-of-home specialist Heartland Media Group in China and Hong Kong for £4.6m.
Following the acquisition, Heartland will become part of Aegis's outdoor operation Posterscope Worldwide, led by its CEO Annie Rickard. Jay Lin will remain as CEO of Heartland.
Heartland is one of China's leading independent out-of-home media agencies offering services including: planning and buying; creative, production and implementation; and monitoring and maintenance.
Its clients include Nokia, Hitachi and The Coca-Cola Company.
China is currently Asia's second largest advertising market and is growing at 20% a year, with out-of-home growing ahead of the total market.
Out-of-home is expected to receive further boosts from the Beijing Olympic Games in 2008 and the Shanghai Expo in 2010.
Robert Lerwill, CEO of Aegis, said: "Posterscope is the leader in out-of-home worldwide, and this acquisition extends that lead at exactly the right time, in the right place.
"Out-of-home in China is one of the sweetest spots in our industry -- this is an exciting acquisition, with immense potential for growth ahead, and we have high expectations for its future success."
Heartland currently has six offices across the mainland China market.
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