Aegis Media expands digital scale in China with strategic investment in leading search firm PinZhong
Aegis Group plc today announced it has committed to a strategic investment in local Chinese search marketing company, PinZhong ("PZoom"). Aegis Group's investment in PZoom is RMB 24 million (£2.4 million).
The partnership with PZoom is in line with Aegis Group's strategy of acquiring businesses in faster- growing regions and which add digital capability and reach, in this case in particular in China's second tier cities. Aegis Group's digital performance marketing network, iProspect, will create a trading and development alliance with PZoom in order to bring more scale and breadth of services to existing and prospective Aegis Media clients in the fast growing digital performance marketing segment. By formalising a partnership with PZoom, Aegis also expects to extend client opportunities to its other global network brands of Carat, Vizeum and Isobar.
Nick Waters, CEO, Aegis Media Asia Pacific said: "Building scale and competitiveness in both search and performance marketing in China is a priority for Aegis. By identifying and investing in a proven brand like PZoom we will contribute significantly to our quest for growth in this space."