Future Marketing Communications Group, which owns Spa, will have a 74.9 per cent stake in the venture, while Hakuhodo Asia-Pacific will own the remainder. The merger will be effective from 1 April.
The deal creates an agency with combined billings of two billion baht (US$55 million) and 120 staff. The new entity will also have 10 blue-chip accounts.
The deal creates an agency with combined billings of two billion baht (US$55 million) and 120 staff. The new entity will also have 10 blue-chip accounts.
Kitti Chambundabongse (pictured), president of Future Marketing Communications Group, and Koji Egashira, managing director of Hakuhodo Asia Pacific, jointly stated that this “hybrid power consolidation” would help strengthen the two companies and combine Spa’s local knowledge with Hakuhodo’s knowledge of Japanese clients and market.
