INTERVIEW-Dentsu aims for 10 pct sales growth in Europe, US
TOKYO, July 24 |
TOKYO, July 24 (Reuters) - Japan's largest advertising firm, Dentsu Inc (4324.T), aims for annual sales growth of 10 percent from its existing American and European operations in the next five years and is interested in acquiring companies in Britain, the CEO of the firm's U.S. operations said.
Dentsu last year acquired McGarry Bowen, one of the largest independent advertising firms in New York, following its acquisition of Attik in San Francisco in 2007.
The company is looking to boost its digital advertising business in the United States and Europe, while bolstering its U.K. operations through acquisitions, said Tim Andree, President and CEO of Dentsu holdings USA who also overlooks Dentsu's European business. "Investing in creative agencies in the United States is finished and I am happy with where we are, but we have to grow both our digital capability as well as our traditional media capability in Europe and America," Andree told Reuters.
"Primarily in the UK right now, I would suspect that one of our potential strategies will be to acquire companies so that we can get some scale to our operations quickly," he said.
But Andree declined to comment when asked whether the company is interested in the Razorfish online advertising agency that Microsoft Corp (MSFT.O) has reportedly put up for sale.
(Reporting by Mariko Katsumura; Editing by Joseph Radford)
((mariko.katsumura@thomsonreuters.com; +81-3-6441-1811; Reuters Messaging: mariko.katsumura.reuters.com@reuters.net))
((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) Keywords: DENTSU/
(C) Reuters 2009. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nnTKB00634
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters