MUMBAI: WPP‘s operating company Grey, the global advertising network of Grey Group, has acquired a majority stake in Yolk.
Yolk‘s digital offering includes digital strategy, social media, rich media, online advertising, viral marketing, interactive marketing, search marketing, e-marketing, e-customer relationship management and web-based capabilities.
Said Grey Group chairman and CEO Jim Heekin, "The acquisition of Yolk is another clear signal of Grey‘s commitment to place digital at the core of our business and deliver powerful, seamless offline and online marketing solutions. The digital services space is growing exponentially and this move adds to our competitive advantage in the marketplace."
Yolk‘s service offering will be integrated into the operations of Grey Asia Pacific with immediate effect.
Stated Yolk director Prakash Somosundram, "We are excited to be joining Grey in Asia Pacific at this time of dynamic growth, energy and success. With our multifaceted digital services offering, there is no doubt that we will contribute positively and achieve great synergy together. We look forward to working with the numerous talents across the network to lead the industry in digital innovation, creativity and effectiveness."
According to Grey, the acquisition will boost its presence in Asia Pacific‘s rapidly growing digital marketing sector as well as enhance Grey‘s total communications capabilities.
The latest acquisition exhibits the agency‘s expansion plans of its capabilities in the Asia Pacific region. In September, G2, the brand activation arm of Grey Group, acquired DPI, Greater China‘s leading shopper marketing consultancy, adding on to other premier investments by the company including G2 Star Echo in China and G2rams in India.
Averred Grey Group Asia Pacific chairman and CEO Nirvik Singh, "Yolk is a digitally creative, innovative and daring agency, and at the same time, results-oriented. The team brings a wealth of knowledge and experience, and comes with an outstanding track record. By combining Yolk‘s best-in-class digital and interactive capabilities with Grey‘s proven expertise, I am confident that we can provide our clients with a new level of excellence in integrated marketing solutions."
