BEIJING: Daniel J. Edelman Incorporated Group of Companies (DJE) has expanded it holdings in mainland China by acquiring Pegasus Communications.
DJE, Edelman's parent company, has a majority shareholding stake, making China the firm's third-largest market with 200-plus staffers. It is Edelman's second brand in China.
"I see great opportunities for us to serve multinationals in China and to help major Chinese companies as they go abroad," Daniel Edelman, founder and chairman of Edelman, said in a statement.
Pegasus is a full-service marketing communications firm providing consumer marketing, financial communications, PR, events, advertising, and design. Clients include Samsung, Siemens, and BMW, and the firm serves domestic businesses listed in mainland China.
Pegasus has offices in Beijing, Shanghai, and Shenzhen, and affiliates and associates across China.
According to Richard Edelman, president and CEO, Pegasus will operate "alongside" Edelman in China, a full-service PR consultancy specializing in stakeholder management in corporate, healthcare, marketing, and technology practices.
Pegasus will continue without staff or structure changes. Acquisition cost is undisclosed.
Earlier this year, Edelman acquired IndoPacific, Indonesia's largest communications firm with 120 employees.