Digital marketing agency Activeark Oy has been acquired by JWT Global Network. This majority stake acquisition comes in close heels post JWT’s acquisition of Hungama Digital a few days back. Though the financial terms of the acquisition have not been revealed, the amount is suspected to be pretty significant given the fact that Activeark’s audited gross revenues for the year ended 31 December 2011 were approximately EUR 8.1 million.
Activeark, founded in 2003, is based in Helsinki with operations in the UK and India and employs more than 80 people. Their Indian office is based out of Mumbai. Post acquisition JWT Finland and Activeark will combine their businesses (and offices as well) and partner in order to provide a comprehensive offering for both local and international clients.
Post acquisition the Activeark entity will be re-christened as Activeark JWT across the world and see its 80 member team merging with JWT Finland’s 30 member staff. In India Activeark has an eight member team which is expected to grow to 15-20 members by the end of this year. This was shared by Siddhartha Vinchurkar, MD, Activeark, in an interview with Pluggd.in.
Siddhartha has been leading the Indian Operations of Activeark since its Indian inception in 2010, and will continue to do so even after acquisition. The India office currently handles the global website Technology/Content management support to the telecommunications giant Nokia Siemens Networks apart from a few more notable Finnish customers. Post acquisition, though it will keep doing what it has been, it will venture into other avenues and unknown frontiers too!
“The leadership team in India will remain the same. The Indian arm has been more into the technology front handling websites and content management etc for overseas clients. However, now we will also start working with Indian customers. Also we will foray into design and branding for Indian as well as international clients. We have worked on a few corporate videos earlier but now it will come into prominence and we might get into doing social media for our clients. Regarding the integration, we should all focus on doing what we have been doing before at the same time adding more to the portfolio, in other words taking care of our clients and delivering top quality in our teams,” he added.
JWT as a group has moved aggressively into the digital space over the last year, expanding both organically and through acquisitions. Recently XM Asia, a JWT company, agreed to acquire Magnivate, Indonesia’s leading digital agency. Then 3 weeks ago, they bought a majority stake in the 17 year old digital agency AKQA for $540 million. And then Hungama Digital was acquired by JWT APAC. As per JWT, Activeark acquisition is one of the most significant European acquisitions for JWT in recent history.