Keywords Studios acquires Lakshya Digital in India

October 10, 2014 — Fusion DigiNet

keywordsKeywords Studios, a technical services provider to the global video games industry, has acquired Lakshya Digital Pvt. Ltd, a provider of outsourced art services for the video games industry internationally with centres of operation in New Delhi and Pune, India, for a total consideration of $4.0m.

Founded in 2004 and employing 270 people, most of whom are highly trained artists, Lakshya is one of the most recognised brands in the large and highly fragmented market for the provision of outsourced art services to the video games industry. It provides Keywords Studios an entry point into this fast growing market, where the demand for art assets (such as characters, vehicles, landscapes, cityscapes, space ships and weapons) is growing in line with the increase in game content as games on consoles, social media, PCs, tablets and smart phones become more complex and richer in their definition.

Keywords Studios is paying a total of $4.0m in two tranches. 91% of the shares of Lakshya have been acquired for $3.0m in cash. The remaining 9% will be acquired for a total of $1.0m in October 2015, of which up to $400,000 at sole discretion of Keywords will be used to subscribe for shares in Keywords Studios at a price determined by the volume weighted average price per share in the 5 days prior to completion of this second stage. Two of the sellers will each be granted options over 450,000 shares of Keywords at the prevailing market price.

Lakshya’s audited accounts for the year to 31 March 2014 show it achieved revenues of INR 249m ($4.05m); it had net assets of INR 78m ($1.3m) including net debt of INR 9.1m ($0.15m). Underlying PBT after adjusting for a non-continuing activity amounted to INR 23m ($0.37m).

Lakshya’s well-established position with game development studios, particularly in the US and Japan, will open up new sales channels for the Keywords group where the focus is primarily on video game publishers. The business development team of Lakshya will be integrated into the Keywords sales force to further facilitate cross selling between the Group’s extended range of services.

Andrew Day, Chief Executive of Keywords Studios, commented: “By providing us with an entry point into the large, growing yet fragmented art outsourcing market, the acquisition of Lakshya provides Keywords with additional growth opportunities as well as cost and revenue synergies. It will enable the Group to have earlier involvement in the development cycle of video games titles, it will enable us to share one facility at Gurgaon (New Delhi) where both Lakshya and Babel Media are located and it will provide us with a base from which to expand further in the art outsourcing market.”

UK, & India, New Delhi

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The Mission Marketing Group acquires Asian-focused Splash Interactive

October 7, 2014 — Fusion DigiNet

MissionThe Mission Marketing Group plc, a marketing communications and advertising group, is acquiring 70 per cent of the Asian-focused digitally-led marketing services agency group, Splash Interactive Pte. Ltd. Splash has offices in Singapore, Shanghai, Hong Kong, Malaysia and Vietnam

Completion of the Acquisition is expected by 20 October 2014, when an initial consideration payment of SGD 0.6m (£0.3m) will be payable in cash. The rest of the consideration will be paid cash instalments depending on profitability during the period to 31 December 2017. The vendors will continue to manage the business.

The Mission Marketing Group plc announced today that it has placed 5,691,908 new ordinary shares of 10 pence each with new and existing institutional shareholders at a price of 42 pence per Ordinary Share to raise £2.4m to fund future acquisitions and general working capital purposes

In the year ended 31 December 2013, Splash achieved an underlying profit before tax of c£100k and reported in its statutory accounts a profit before tax of SGD 64,000 (c£31k) on turnover of SGD 5.0m (£2.4m). The management team of Splash say they expect to see a substantial growth in profits in the current financial year. At the balance sheet date, Splash had net assets of SGD 1.8m (£0.9m).

David Morgan, Group Chairman of The Mission Marketing Group, said, “This is a truly Client-led initiative in that for a number of our Clients we are already delivering campaigns in the region and this acquisition can only help them benefit from Splash’s market knowledge and region reach. They are a great, young, vibrant team who have created some innovative techniques and ideas that we are looking forward to introducing to our Mission Agency Clients in the future.”

UK, London & Malaysia, Selanger

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WPP to acquire Teein in China

September 22, 2014 — Fusion DigiNet

WPP’s wholly owned operating company VML, a global digital network, has agreed to acquire Teein, a leading social media agency in China.

Established in 2004 in Shanghai, Teein is a full-service social media agency offering social listening, social marketing and social CRM. The agency also provides online media planning and buying, online public opinion monitoring and social media application development. Key clients include Danone, Estee Lauder, Google, Lenovo, SAP and Unilever.
For the year ending 31 December 2013, Teein’s unaudited revenues were RMB 43.5 million, with gross assets of RMB 13.3 million, as of the same date. The agency employs approximately 170 people.

UK, London & China, Shanghai

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Y&R Advertising acquires creative and research agency from MCS Holding in Mongolia

September 15, 2014 — Fusion DigiNet

WPP’s wholly owned operating company Y&R Advertising is to acquire the creative and research agency of MCS Holding LLC, one of Mongolia’s largest conglomerates.

The deal marks WPP’s first acquisition in Mongolia. In addition, Y&R becomes the first global ad network to establish a majority-owned agency office in the country.

Established in 2008, the creative and research agency provides a range of services, including advertising development and events management as well as consumer and retail market research services. Its clients include MCS Asia Pacific Brewery, Dell, Herbalife, and JTI. The agency has approximately 45 people.

Following the acquisition, the agency will be renamed Y&R Mongolia; its market research business will be affiliated to WPP’s global research consultancy TNS, which will be the first international research consultancy to establish a presence in Mongolia.

UK, London & Mongolia

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Thomson Reuters to sell peHUB, Buyouts and Venture Capital Journal

September 12, 2014 — Fusion DigiNet

Thomson Reuters LogoThomson Reuters is selling several of its trade publications, including peHUB, Buyouts and Venture Capital Journal, according to a report in peHUB.

PeHUB, Buyouts and VCJ are produced by Thomson Reuters’ Deals Group, which employs a dozen journalists.

  • Buyouts is a bi-weekly magazine that covers news and trends in the buyouts market.
  • Venture Capital Journal is a monthly magazine that covers the venture capital business.
  • peHUB is a blog that covers PE and VC news.

The Deals Group also publishes peHUB Wire, a free daily email newsletter . The Wire reportedly has more than 60,000 subscribers. Subscriber numbers were unavailable for Buyouts, which costs $2,695 per year, and VCJ, which costs $2,295 annually. Thomson Reuters also doesn’t disclose the number of monthly unique visitors to peHUB.

USA, New York, NY & UK, London

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Independent Media Trust completes acquisition of control of Network18

July 9, 2014 — Fusion DigiNet
Reliance Industries Limited (RIL) has announced that Independent Media Trust (IMT) of which RIL is the sole beneficiary, has completed the acquisition of control of Network 18 Media and Investments Limited (NW18) including its subsidiary TV18 Broadcast Limited (TV18).
Apart from nominees of IMT, Shri Deepak S Parekh and Shri Adil Zainulbhai have been inducted, as Independent Directors on the board of NW18. Mr. Raghav Bahl will continue to be on the Board of NW18 as a Non-executive Director, an RIL press release said.
“With the completion of this transaction, IMT and RIL have become promoters of NW18 and TV18. The open offers to the public shareholders for acquisition of equity shares of NW18, TV18 and Infomedia Press Ltd. as announced on May 29, 2014 by IMT are in process and the Draft letter of offer has been filed with SEBI for its comments,”
Read the full report in the economic Times here
India, Mumbai
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6 new WPP acquisitions

July 7, 2014 — Fusion DigiNet

wpp1. Kantar acquires majority stake in data visualisation and interactive specialist Guardian Digital Agency, in the UK

WPP’s wholly-owned data investment management arm, Kantar, has acquired the Guardian Digital Agency (“GDA”), a specialist data visualisation, site design and interactive development agency, previously part of Guardian News and Media Group. The company, which employs 13 people, will be rebranded under the new name Graphic. Many of Kantar’s 12 companies have already worked with GDA.

UK, London

 2. Grey to acquire a majority stake in Circus, Peru’s largest independent advertising agency

WPP’s wholly-owned operating company Grey, is to acquire a majority stake in Circus Peru S.A., the largest independent adverting agency in Peru.

Founded in 2008, Circus is a full-service integrated marketing company. Its subsidiaries include Circus Interactive, Circus Retail, Circus Experience, Brand Lab, a design company, and Carne, a second advertising agency. Circus will be integrated into the existing Grey Peru and be renamed Circus Grey.

Circus’ unaudited revenues were PEN 34 million as of December 31, 2013 with net assets of PEN 9.0 million as of the same date. Clients include Grupo Credito, Grupo Falabella, Claro and San Fernando. Based in Lima, the agency employs nearly 200 people.

Other WPP companies active in Peru (including affiliates) are Young & Rubicam, Ogilvy & Mather, J. Walter Thompson, GroupM, Burson-Marsteller, IBOPE, Kantar Worldpanel, TNS and Geometry Global.

UK, London & Peru, Lima

3. Millward Brown acquires global brand strategy company EffectiveBrands

WPP’s wholly-owned operating company Millward Brown, has acquired EffectiveBrands Holding B.V., a marketing strategy consulting firms.

Founded in 2001 by Marc de Swaan Arons and Frank van den Driest, the company’s unaudited revenues for the year ended 31 March 2014 were approximately EUR 14.1 million with gross assets at the same date of approximately EUR 6.5 million. Clients include Pernod Ricard, Virgin, Barclays, Unilever and PepsiCo. EffectiveBrands is headquartered in Amsterdam with offices in London, New York, Singapore and Tokyo and employs about 65 people.

Millward Brown will combine EffectiveBrands with Millward Brown Optimor, its strategy consulting unit, to form Millward Brown Vermeer. Millward Brown

UK, London & The Netherlands, Amsterdam

4. WT acquires majority stake in creative agency The Hardy Boys in South Africa

WPP’s wholly-owned operating company JWT, has acquired a majority stake in The Hardy Boys, a leading creative agency in South Africa.

Founded in 1994 in Durban, The Hardy Boys is a multi-disciplinary, brand building agency, with fully integrated activation capabilities. Clients include Unilever, Diageo, SA Home Loans, ADvTECH and RCL Foods amongst others.

The Hardy Boys’ revenues for the year ended 28 February 2014 were approximately ZAR 55 million, with gross assets at the same date of approximately ZAR 32.2 million.

UK, London & South Africa, Durban

5. Kantar Media acquires media intelligence business Precise

WPP’s wholly-owned media research and analytics business Kantar Media, has acquired a majority stake in the issued share capital of Precise Media Group Holdings Limited, a provider of monitoring and evaluation services.

Founded in 1996 and based in London, with offices in New York, Precise employs 430 people servicing 2,500 customers including multinational corporations, PR agencies, public sector bodies and SME clients. For the year ending 30 September 2013, Precise’s revenues were £28.9 million, with gross assets as at the same date of £34.4 million.

UK, London & USA, New York, NY

6. XM Asia to acquire majority stake in Sofresh in Vietnam

WPP’s wholly owned operating company, XM Asia, a JWT company, is to acquire a majority stake in Sofresh, a leading digital creative agency in Vietnam.

Sofresh, co-founded in 2007 by Ly Viet Vu and Justin Cohen, develops digital strategy, digital creative ideas and marketing campaigns across multiple digital channels, including social media, mobile and the web. The company also designs and builds e-commerce platforms, customer relationship management systems and in-store digital installations.

Sofresh works with a range of local and global clients, including Diageo, GSK, Kinh Do, Techcombank and Unilever.

Sofresh had revenues of VND 35.7 billion for the year ending December 31, 2013, with gross assets of VND 30.1 billion, as at the same date. The company employs 85 people.

Sofresh marks WPP’s third acquisition in Vietnam in seven months. In Vietnam, WPP companies (including associates) generate revenues of about $80 million and employ approximately 1,000 people.

UK, London & Vietnam

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ITE acquires 50% of DUBM in Indonesia

June 11, 2014 — Fusion DigiNet

ITEInternational trade exhibitions and conferences group ITE Group, is acquiring 50% of the shares in PT Debindo Unggul Buana Makmur (“DUBM”) from a group of three private individuals. The acquisition is subject to the approval of the Indonesian Investment Coordinating Board. This is anticipated to be received within two months.

The Sellers, who are the original founders of the business, will retain the remaining 50% of the shares and will continue to manage the business.

DUBM owns the Indobuildtech exhibitions which serve the building and construction industries in Indonesia and the surrounding region. The largest event is held in Jakarta in June each year and is the leading event of its kind in Indonesia. The 2013 exhibition was the 11th edition which sold approximately 12,000m2 net and was attended by over 33,000 professional visitors. The upcoming event opens in the Jakarta Convention Centre on 11th June 2014. In addition, satellite events are held in Surabaya, Bandung, Makassar and Bali.

Commenting on the acquisition, ITE’s Chief Executive Officer, Russell Taylor, said: “Indobuildtech is the leading building exhibition in Indonesia. The addition of this exhibition to ITE’s Build portfolio is consistent with our strategy of building market leading positions in core markets and sectors. The building industry is a growth sector in developing markets and with this complementary acquisition, ITE will leverage its international exhibition expertise to develop further its position and benefit from a strengthened portfolio within this sector.”

UK, London

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WPP’s Bates CHI & Partners to acquire Temple Advertising in India

June 5, 2014 — Fusion DigiNet

wppWPP‘s wholly owned operating company, Bates CHI&Partners, has agreed to acquire Temple Advertising Private Limited, a boutique advertising agency based in Bangalore, India. The terms of the deal were not disclosed.

Bates CHICo-founded in 2004 by Manmohan Anchan, Vidur Vohra and Srikanth V.S., Temple has worked with leading Indian brands across media and entertainment, automotive, fashion and retail, foods, education and real estate. Clients include Embassy Group, eTV Kannada, Reliance Trends, Sumeru Frozen Foods, Vaswani Group and Wipro Technologies. Temple employs approximately 40 people.

UK, London & India, Bangalore

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JWT to acquire majority stake in Social Wavelength in India

March 27, 2014 — Fusion DigiNet

wppWPP’s wholly-owned operating company, JWT, the global marketing communications agency, has agreed to acquire a majority stake in Social Wavelength, one of the leading social media agencies in India.

Founded in 2009, Social Wavelength is headquartered in Mumbai, with offices in Delhi and Chennai. The company employs over 170 people and key clients include Franklin Templeton, Apollo Hospitals, Idea Cellular and GE India Industrial.

Social Wavelength’s revenues for the year ended 31 March 2013 were INR 91.5 million, with gross assets at the same date of INR59.2 million.

UK, London & India, Mumbai

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