Dentsu Aegis Network signs agreement to acquire a stake in FoxP2, a leading creative agency in South Africa
Cape Town, South Africa. Wednesday, 6 October, 2017. Dentsu Aegis Network today announced the signing of an agreement with FoxP2, to acquire a stake in this leading South African advertising agency. FoxP2, with a 12-year track record as a major player in advertising and design, will be integrated into Dentsu Aegis Network’s operations to strengthen the creative capability in the market, and further expand its services to local and international clients. The completion of this acquisition is subject to regulatory approval.
Founded in 2005, FoxP2 integrates strategy, design, digital and creative advertising into innovative results for its clients. FoxP2 has 83 passionate experts across Cape Town and Johannesburg. They are one of the leading creative agencies in South Africa and boast numerous industry awards, both locally and internationally, including a recent Gold Loerie and Apex Effectiveness award for their Ster Kinekor ‘Open Eyes’ campaign. In addition, the agency has garnered a number of prestigious international advertising awards, including this year’s UK D&AD Awards and at One Show in the US.
Koo Govender, CEO, Dentsu Aegis Network South Africa, commented:
“I am really looking forward to the collaboration with FoxP2. There was definitely a gap in our market product offering for creative and design services. FoxP2 not only fills this gap with their award-winning creativity and accolades, but there is a magical chemistry amongst our teams. There are many synergies on how we could acquire and add value to more clients as a team. Together we will make huge strides in the industry.”
Dawn Rowlands, CEO, Dentsu Aegis Network Sub Saharan Africa commented:
“Dentsu Aegis Network SSA is gaining momentum rapidly in the region, and our clients are looking to us for holistic services in many markets. Creative services only represent 15% of our revenue, currently making this environment an ideal space to grow our business. We have attracted the attention of a number of creative agencies across the region, but have focused on agencies with the top creative accolades combined with profitability. This lead us to FoxP2, a leading independent creative agency in South Africa. There are a number of opportunities to integrate Dentsu Aegis Network's services into FoxP2's clients’ and vice versa."
Charl Thom, CEO, FoxP2 commented:
“FoxP2 has declined many approaches from global advertising networks over the last decade. We never wanted to be another arrow in a quiver, but given the fact that Dentsu Aegis Network does not have a creative agency in South Africa, the opportunity for us as entrepreneurial founders to retain a meaningful stake in the business, and most importantly, the opportunity to truly stretch and improve our offering to our clients, made this a natural next step in FoxP2’s evolution. We are going to have access to a broad range of global and local skills, services and tools, as well as an authentic network on the African continent.”
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About Dentsu Aegis Network
Part of Dentsu Inc., Dentsu Aegis Network is made up of ten global network brands - Carat, Dentsu, dentsu X, iProspect, Isobar, mcgarrybowen, Merkle, MKTG, Posterscope and Vizeum and supported by its specialist/multi-market brands. Dentsu Aegis Network is Innovating the Way Brands Are Built for its clients through its best-in-class expertise and capabilities in media, digital and creative communications services. Offering a distinctive and innovative range of products and services, Dentsu Aegis Network is headquartered in London and operates in 145 countries worldwide with more than 40,000 dedicated specialists.
FoxP2 was launched in South Africa in 2005 by four founders; Charl Thom, Justin Gomes, Andrew Whitehouse and Grant Jacobsen. Its service offering combines strategy, design, digital and creative advertising into innovative “Connected Ideas” that deliver results for clients across all advertising, media and marketing channels. It is independently owned and has offices in both Johannesburg and Cape Town. It currently has a team of 83 people (38 staff in Johannesburg and 41 staff in Cape Town & 4 founders) of which there were eight individual credits at the 2016 Loeries awards