Latest acquisition elevates Grey’s digital position in Asia Pacific.
BestMediaInfo Bureau | Delhi | December 21, 2010
Grey, the advertising network of Grey Group, today announced a majority-stake acquisition in Yolk, one of Asia’s fastest-growing interactive and digital media networks. Effective immediately, Yolk’s service offering will be integrated into the operations of Grey Asia Pacific.
A digital services company renowned for strategy, creativity, technology and engagement, Yolk’s holistic digital offering includes digital strategy, social media, rich media, online advertising, viral marketing, interactive marketing, search marketing, e-marketing, e-customer relationship management and web-based capabilities.
Founded in 2001, Yolk is headquartered in Singapore, with a presence in Malaysia, Thailand and Australia. The company employs 40 full-time staff and its roster of clients across Asia includes Canon, Microsoft, Ciba Vision and Singapore Economic Development Board, among others.
Yolk has been recognised regionally and globally, having won multiple accolades at the Webby Awards, Asia Interactive Awards, Hitwise Online Performance Awards, Tokyo Broadcasting System DigiCon6+2 and Singapore Creative Circle Awards.
This acquisition will boost Grey Asia Pacific’s presence in the rapidly growing digital marketing sector as well as enhance Grey’s total communications capabilities.
Jim Heekin, Chairman & CEO, Grey Group, said, “The acquisition of Yolk is another clear signal of Grey’s commitment to place digital at the core of our business and deliver powerful, seamless offline and online marketing solutions. The digital services space is growing exponentially and this move adds to our competitive advantage in the marketplace.”
Nirvik Singh, Chairman & CEO, Grey Group Asia Pacific, said, “Yolk is a digitally creative, innovative and daring agency, and at the same time, results-oriented. The team brings a wealth of knowledge and experience, and comes with an outstanding track record. By combining Yolk’s best-in-class digital and interactive capabilities with Grey’s proven expertise, I am confident that we can provide our clients with a new level of excellence in integrated marketing solutions.”
Prakash Somosundram, Director, Yolk, said, “We are excited to be joining Grey in Asia Pacific at this time of dynamic growth, energy and success. With our multifaceted digital services offering, there is no doubt that we will contribute positively and achieve great synergy together. We look forward to working with the numerous talents across the network to lead the industry in digital innovation, creativity and effectiveness.”
The acquisition of Yolk represents the latest initiative in Grey’s growth strategy, as the agency continues to expand and further develop its capabilities in the Asia Pacific region. In September, G2, the brand activation arm of Grey Group, acquired DPI, Greater China’s leading shopper marketing consultancy, adding on to other premier investments by the company including G2 Star Echo in China and G2rams in India.