Aegis, the FTSE 250 media marketing agency, has acquired Ad O'clock, a Russian media agency based in Moscow.
Ad O'clock, which had gross assets of €3m at the end of 2010, has a strong core of locally based clients that include a number of state-owned companies and international clients, the statement from Aegis said.
Chief Executive of Aegis Jerry Buhlmann said: "Ad O'clock is our second significant Russian acquisition this year - it is a substantial player in a fast-growing advertising market.
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"As a full service media brand Ad O'clock strengthens our participation in the buoyant Russian market, injecting further impetus into our strategy of broadening our service offering, particularly in faster growing regions."
The share price rose 0.07% to 139.3p by 09:16.
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