Publicis Groupe buys Genedigi as it seeks to double China revenues

Publicis Groupe has agreed to acquire one of China’s largest PR agencies, Genedigi Group.

Olivier Fleurot: Publicis Groupe buys Chinese agency Genedigi
Olivier Fleurot: Publicis Groupe buys Chinese agency Genedigi

Genedigi will maintain its current name and will retain its existing management team, but the agency will now be aligned with Publicis’ MSLGroup.

The terms of the transaction were not disclosed.

Olivier Fleurot, chief executive officer, MSLGroup commented: ‘This move reflects our commitment to offering clients solutions that are tailored to the Chinese market and to supporting fast-growing domestic industries.’

The group claims that that the acquisition makes MSLGroup the largest PR network in Greater China, with more than 650 staff across 11 offices (including Hong Kong and Taiwan).

Publicis Groupe has pledged to increase its revenue derived from emerging markets to 30% over the next three years (from 22.7% in 2010), and plans to double revenues in China itself.

Jean-Yves Naouri, Publicis Groupe COO and chairman of China Publicis Groupe, added: ‘China is a top strategic priority for us. We will continue making significant investments across this promising market and we are on course to achieve our ambitious objectives, enabling us to offer best in class services to help our top multinational and Chinese clients as they grow in China, while significantly expanding our reach of Chinese cities and clients.’

Founded in 1997, Genedigi Group employs 400 communications professionals across public relations, event marketing, digital marketing and an in-house market research centre.  Xiao Jun, chairman Genedigi Group, will continue to lead the agency and will report to Glenn Osaki, president of MSLGroup Asia.

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