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Japanese advertising giant Dentsu has agreed to acquire Aegis Media, creating the largest media buying group in Asia.
Japanese advertising giant Dentsu has agreed to acquire Aegis Media in a deal that values the British media buying company at US$4.9 billion.
Tadashi Ishii, president and CEO of Dentsu, said the combined companies will deliver best-in-class services to clients through a new global communication network born in the digital age.
"Dentsu and Aegis will be the market leader in the Asia Pacific region, enjoying a strong presence across Europe and the fastest growing agency network in the US," he said.
Aegis' biggest shareholder Vincent Bollore sold a 15 per cent stake to Dentsu today (Thursday, 12 July) and has agreed to sell a further 5 per cent.