Holmes Report 19 Jun 2011 // 11:00PM GMT
BEIJING--Publicis Groupe is to acquire Genedigi Group, one of China’s largest independent public relations and marketing communications agencies. Genedigi will be aligned with the group’s PR network MSLGroup.
Genedigi will maintain its current name and continue to operate under the leadership of founder Xiao Jun and his existing management team. Terms of the transaction were not disclosed.
The purchase follows MSLGroup’s acquisition of China PR firm Eastwei Relations in late 2010, and makes the network one of the biggest in the country. MSLGroup Greater China now includes more than 650 staff across 11 offices in mainland China, Hong Kong and Taiwan.
Publicis Groupe has a stated strategy to increase its revenue derived from emerging markets to 30 percent over the next three years (from 22.7 percent in 2010), and is aiming to double its size in China.
Founded in 1997, Genedigi Group employs 400 communications professionals across public relations, event marketing, digital marketing and market research. The firm supports more than 50 clients across its offices in Beijing, Shanghai and Guangzhou. Xiao Jun will report to Glenn Osaki, president of MSLGroup Asia.
MSLGroup CEO Olivier Fleurot said: “This move reflects our commitment to offering clients solutions that are tailored to the Chinese market and to supporting fast-growing domestic industries.”