MarketingVOX: Avenue A/Razorfish has entered the lucrative Chinese internet market with the acquisition of a Hong Kong-based digital shop.
Continuing its international expansion, Avenue A/Razorfish has acquired the seven-year-old e-Crusade, which provides web creative and media services, reports AdWeek. The 43-person shop’s clients include Coca-Cola, HSBC, Nike and Microsoft’s Xbox, and last year it re-launched the Hong Kong websites of Coke and Nike. It recently established an outpost on the mainland, in Shanghai.
The acquisition is “focused on our desire to have a global footprint,” Avenue A/Razorfish worldwide president Clark Kokich is quoted as saying. “You can’t have that without China, period.” (Last week, independent shop AKQA opened a Shanghai office, in preparation for the 2008 Summer Olympics in China.)
e-Crusade’s price includes $3 million upfront and will be based on its performance over the next four years. It will retain its brand and current management team.
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