UK-based Dentsu Aegis Network has bought Chinese social creative firm Verawom. The financial terms of the acquisition deal were not disclosed, according to The Drum.
Under the terms of the said deal, Verawom will be integrated into the Isobar China group. Henceforth, it will be called "Verawom - Linked by Isobar." Verawom founder and Chief Executive Officer (CEO) Jack Wan will maintain his position and will report to Isobar's CEO, Jane Lindbaden, the report detailed.
Wan said of the transaction: "We are thrilled to join the pioneering Isobar and the Dentsu Aegis family. I'm confident that with our shared values and commitment to innovation in digital, this partnership will allow us to leverage the global resources and talent of the group, to deliver groundbreaking campaigns for our clients."
According to Nick Waters, the CEO of Dentsu Aegis Asia, the addition of Verawom will expand their market and digital offerings, the report added.
Fiat, Bacardi, and Abbott are among the clients of Verawom, The Drum reported.
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