Innocean announced on December 14 that it has acquired David&Goliath, a renowned creative agency based in the US. This marks Innocean’s first M&A deal since its initial public offering(IPO) in 2015.
Through this deal, Innocean gains 100% shares in D&G. In 2016, D&G recorded approximately KRW 49 billion (forecast figure under Innocean’s consolidated accounting standards post acquisition) in gross profit.
D&G is a creative agency for US brands including Universal Studios, a film and entertainment company; HBO, America’s largest premium cable network, known for the popular series Game of Thrones; ack in the Box, a quick service restaurant chain; and California Lottery, a government agency that raises funding for public education. D&G has also been Kia’s agency of record for the past 18 years, contributing largely to its continued brand success in the Usa.
D&G, founded in 1999, is an independent advertising agency located in Los Angeles. The Kia Soul hamster campaign produced by D&G has enjoyed immense popularity since 2009,
Innocean plans to aggressively expand business in the US, the world’s largest advertising market, with the aim of becoming a global top-tier marketing communications company. The acquisition of D&G is also expected to maximize the company’s synergy prospects with Innocean Worldwide Americas (IWA), the designated creative agency of HMA as well as local brands.