Publicis Groupe is to make its first acquisition in Japan, having agreed to buy Tokyo-headquartered PR and sales promotion specialist Gravitas.
Financial details were not disclosed, but the French ad giant’s regional chairman for Asia Pacific Guillaume Levy-Lambert revealed that Gravitas reported revenues of Y250 million ($1.9m, E2.2m) in 2001.
As revenues at Publicis’ Japanese operations stood at Y460m last year, the acquisition will boost its business in the country by over 50%.
The group revealed last year that it wanted to grow in Japan, intending to buy local agencies to increase its presence. Although this remains an ambition, Levy-Lambert suggested Publicis will for the time being focus on existing customers. “Our priority will be to digest this,” he said. “I don't intend to aggressively go after new clients.”
News source: Wall Street Journal