Hakuhodo acquires Hong Kong research firm Cimigo

Japanese advertising group Hakuhodo has deepened its ties to Hong Kong, acquiring market research firm Cimigo Holdings.

Launched in 2003, Cimigo has some seven offices and 200 people across its Asia network, according to its website.

Hakuhodo has entered into the deal with Tokyo Survey Research, another Hakuhodo company, and aims to provide its clients with better research and insight across Asia.

The move is also expected to give Cimigo access to resources to help expand the Cimigo brand to new markets.

Cimigo managing partners, Chris Farquhar and Richard Burrage, said they had explored partnerships with various interested parties and the culture and business strategy of the Hakuhodo group provided the ideal match for both parties to benefit from the relationship.

"We believe it is a great fit,” Farquhar said.

“Cimigo has grown rapidly since its inception in 2003 and the partnership with Hakuhodo will enable the Cimigo brand to expand more rapidly than was possible as an independent agency," he added.