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Local agency @ccomplice gets acquired

Integrated digital marketing and commerce network, Asia Pacific Digital (APD) is expanding its footprint in Asia with the Singapore acquisition of digital agency, @ccomplice.

@ccomplice, founded in 2010 by Tobias Wilson, has created digital marketing strategies for brands in Asia, including Panasonic, Toyota, Lexus, Suzuki, Singpost, DBS and Standard Chartered.

Chairman of Asia Pacific Digital Roger Sharp said @ccomplice will join with the rest of the Asia Pacific Digital companies across the region in adopting APD as the group’s principal operating brand by the end of April 2015. This adds to its end-to-end digital value chain provided by Next Digital, dgm, Empowered, Jericho and APD eCommerce.

Sharp added that the  acquisition is a full one and was worth SG$1million, payable in cash and APD shares, “with a potential top up based on performance.” He also added that @ccomplice name will be dropped and rebranded as APD. Meanwhile, Wilson will take on the role of CEO of APD in Singapore and will run the entire business in Singapore.

“APD was listed on the Australian Stock Exchange last year to build a high growth digital marketing and commerce business in Asia from its base in Australia. With around 30% of revenues now earned outside Australia and half of the APD team now located in offices in Shanghai, Manila, Kuala Lumpur and Singapore, we see the @ccomplice acquisition as an important milestone and an accelerator in the Singapore market,” Sharp said.

CEO Tobias Wilson (pictured), @ccomplice said: “APD is a unique organisation that is 100% focused on breaking the agency model by integrating the digital value chain and delivering tangible business results to its clients across APAC. That fits perfectly with our model. So in the end, as unexpected as it was, joining APD was a no-brainer for us, our team and our clients and we can’t wait to start bringing some real value, at scale, to the market as a whole.”

Asia Pacific Digital has four divisions, strategies & solutions, which will include @ccomplice; customer acquisition, customer management and eCommerce. APD also announced its half-year financial results to 31 December 2014, showing business unit EBITDA growth of 43% compared to the prior corresponding period (PCP), to $3.5 million, while the company’s business unit operating margin improved by 33%.

Around 30% of revenues are now earned outside Australia, with Asian revenues recording growth of 64% compared to PCP. APD also added that it is committed to reinvesting its operating earnings in strategic growth initiatives, and spent $2.2 million expanding its geographic and product capabilities across the region in the six-month period.

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