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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"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.
NR
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
