Y&R and Formul8 acquisition talks break down

SINGAPORE - Acquisition talks between Y&R and independent digital shop Formul8 have fallen through, ending months of speculation.

According to a source, the rumoured acquisition, which would bolster Y&R Singapore’s in-house digital capabilities, ended as terms could not be agreed upon. All parties declined to comment when contacted.

The news follows the upcoming departure of Andy Tu, a former group account director for SingTel at Y&R. Meanwhile, Andrew Dowling (pictured) has joined Y&R Singapore as group account director of SingTel.

Dowling was most recently a group account director at George Patterson Y&R Sydney, where he headed accounts such as Foxtel, Panasonic and Avis. One of his highlights was overseeing the Foxtel Digital launch, where he managed Foxtel’s largest-ever marketing campaign.