FoxP2 to climb Mt Fuji
FoxP2’s tie-up with Japanese giant Dentsu gives the SA agency access to world-class media thinking, great data analytics and other skills, but might this compromise its independence?
The Cape-headquartered FoxP2 agency has sold a majority stake to the Dentsu Aegis Network, part of the Japan-based Dentsu advertising and public relations giant. Both parties have opted not to disclose the purchase price, pending regulatory approval. After regulatory approval Dentsu Aegis will own just over 52% of the business. Its revenue last year was R61m and it employs 80 people in Cape Town and Johannesburg. The local Dentsu operation includes Carat, Isobar, Posterscope and Vizeum, and adding a high-end creative operation will make it a formidable player in the SA market. And that, says FoxP2 CEO Charl Thom, is what attracted him and his three partners to the deal. "We have been approached by most of the big networks over the years, but being the only creative agency in this group was appealing. We will have access to in-house services that have been lacking. This deal also gives us a springboard to working on more clients in [the rest of] Africa." Thom says the Dentsu tie-up g...
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