Seeking to further its long-standing partnership with a Singapore public relations firm and to continue its Asia-Pacific expansion efforts, Omnicom Group (NYSE: OMC ) announced today its Ketchum business unit has acquired ICON International Communications.
ICON, according to Omnicom, is Singapore's largest independent PR agency. The two companies have worked together in some capacity for the past eight years, the last five years with ICON as an exclusive Ketchum affiliate.
Commenting on the acquisition, Ketchum senior partner and CEO Rob Flaherty said, "With an extraordinary growth trajectory,Singapore is a market of significant strategic importance to Ketchum's multinational client base, many of which have regional headquarters in the country, and it is vital that we continue to evolve our business in a way that complements their needs."
Omnicom's acquisition of ICON is the latest in a series of moves to strengthen its presence in Asia. Ketchum expanded its ownership stake in Greater China two years ago and created an executive board in Greater China in late May of this year, in addition to growing operations in India and Japan.
Financial terms of the deal were not disclosed.