This is a very good move by the Japanese firm. They need to expand their markets and tap into the vast international markets.
Dentsu, a Japanese advertising powerhouse that has struggled to expand internationally, made a big leap into Western markets on Thursday, saying it had agreed to buy Aegis, an agency company based in London.
The planned acquisition, valued at £3.167 billion ($4.92 billion), is one of the largest ever in the advertising business, rivaling the purchase of Young & Rubicam by theWPP 12 years ago and a deal for the parent company of Leo Burnett by Publicis Groupe in 2002.
- DealBook: Dentsu of Japan to Buy Aegis of Britain for $5.1 Billion (dealbook.nytimes.com)
- News Summary: Dentsu will buy Aegis Group for $5B (seattletimes.nwsource.com)
- Dentsu to buy Aegis for £3.2bn (guardian.co.uk)
- Dentsu agrees to buy Aegis Group for about $5B (seattletimes.nwsource.com)
- News Summary: Dentsu will buy Aegis Group for $5B (seattlepi.com)