Aegis to buy Chinese firm Catch Stone
Aegis Group, the FTSE 250 media and digital communications group, as signed a definitive agreement to acquire Beijing Catch Stone Advertising and the business of Shanghai Catch Stone Culture Media, an established full service digital media and marketing agency in China.
Aegis Group, the FTSE 250 media and digital communications group, as signed a definitive agreement to acquire Beijing Catch Stone Advertising and the business of Shanghai Catch Stone Culture Media, an established full service digital media and marketing agency in China.
The purchase of the two, known collectiely as Catch Stone, is being made for an initial consideration of RMB 550m (£55.2m).
Catch Stone, an established digital agency in China, offers digital media planning and buying as well as a range of digital marketing services in areas including creative origination and social media. It is a leading media buying agency operating across China with a particular specialism in the automotive and financial services sectors.
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
Aegis said: "With Catch Stone, Aegis Media will have a strengthened position in digital media planning and buying in China, one of the world's fastest growing advertising segments.
"The acquisition is in line with Aegis's strategy of targeting acquisitions with a specific focus on digital businesses and faster-growing regions. Catch Stone will form a separate network brand for Aegis Media in China, working alongside Aegis's other network brands of Carat, Vizeum, Isobar, iProspect and Posterscope."
The acquisition is subject to a four year earn-out structure, from 2013 to 2016, with further annual consideration payments being made during this period, dependent on the level of future profit growth achieved. The total consideration for the acquisition by 2016 is expected to be around RMB 949.4m (£95.2m).
The unaudited profit before tax of Catch Stone for the year ended December 31st was RMB 81m (£8.1m) and the value of the gross assets at that time was RMB 375.9m (£37.7m).
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
The UK cities where it’s cheaper to buy a house than rent
For people in some areas of the country, home ownership is a distant dream. But for others it can be surprisingly affordable.
-
Review: The Grill at the Dorchester
The Grill at the Dorchester has a new, easy-going atmosphere, but the food is serious: from punchy beef wellington to grown-up tarte tatin, says Dan McEvoy