Aegis Media Launches Vizeum in Romania with Acquisition of Tempo MediaPublish date: 08-05-2008
Aegis Group plc ("Aegis"), the marketing communications group, today announces that it has agreed to acquire Tempo Media in Romania, subject to local regulatory approval. Tempo Media has gross assets of €1.3m.
Tempo Media was originally established as the media division of the Romanian full service agency Tempo Advertising SRL, one of the leading independent full service advertising agencies in the region.
Following this acquisition, Tempo Media will be integrated into Aegis Media, rebranding as Vizeum and taking the Vizeum network into its 43rd market since its launch in 2003. Tempo Media's client portfolio includes a mix of international and local clients such as Tuborg, Carlsberg, Skol, Orangina, Granini, Alka, Nutline, Baneasa, Boom, Cetelem (BNP Paribas) and Kiwi Finance.
Romania is a rapidly emerging economy for advertisers. Annual advertising expenditure has grown from $230m to $690m from 2003 to 2007, an average annual growth rate of 34%. That rate of expansion is forecast to continue, pushing through the $1bn mark in 2009.
Commenting on the acquisition, Robert Lerwill, CEO of Aegis, said:
"Due to its population size and fast growth dynamic, Romania is becoming a lead market for many international advertisers in the south-eastern region of Eastern Europe. This acquisition significantly boosts our presence in Romania and further strengthens the Vizeum network's offering in Europe."
Aegis Group plc
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