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Publicis Groupe acquires Beijing-based Longtuo
By Ding Yining |
May 15, 2012, Tuesday
|
Online Edition
Online Edition
PUBLICIS Groupe, the world's third largest advertising and communications group, said yesterday it has acquired a local digital marketing agency to cash in on the booming domestic online shopping market.
Beijing-based e-commerce service agency Longtuo will become a part of Publicis Groupe's subsidiary Razorfish to complement each other's business at a time when consumers are moving to online buying channels and TV advertising has been curbed by regulators.
The acquisition of Longtuo is a key step in Publicis Groupe's objective to double its size in the fast-growing Chinese market between 2010 and 2013.
"This acquisition means we're now well-positioned to offer international clients excellent local expertise and at the same time open the doors to a number of local e-commerce players as 70 percent of China's online spending goes to local businesses," said Jean-Yves Naouri, Publicis Groupe COO and chairman of Publicis Groupe China.
"Working together with Longtuo, Razorfish will be able to offer wider service alternatives for existing clients as well as potential customers," said Allen Wang, general manager of Razorfish Consulting (Shanghai) Co Ltd.
Longtuo is expected to add to the existing service of Razorfish, providing website construction, content management as well as traffic measurement for online vendors.
Publicis Groupe also acquired three other local agencies - U-Link Business Solutions, King Harvests and Luminous - earlier this year.
Beijing-based e-commerce service agency Longtuo will become a part of Publicis Groupe's subsidiary Razorfish to complement each other's business at a time when consumers are moving to online buying channels and TV advertising has been curbed by regulators.
The acquisition of Longtuo is a key step in Publicis Groupe's objective to double its size in the fast-growing Chinese market between 2010 and 2013.
"This acquisition means we're now well-positioned to offer international clients excellent local expertise and at the same time open the doors to a number of local e-commerce players as 70 percent of China's online spending goes to local businesses," said Jean-Yves Naouri, Publicis Groupe COO and chairman of Publicis Groupe China.
"Working together with Longtuo, Razorfish will be able to offer wider service alternatives for existing clients as well as potential customers," said Allen Wang, general manager of Razorfish Consulting (Shanghai) Co Ltd.
Longtuo is expected to add to the existing service of Razorfish, providing website construction, content management as well as traffic measurement for online vendors.
Publicis Groupe also acquired three other local agencies - U-Link Business Solutions, King Harvests and Luminous - earlier this year.
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