FRIDAY, March 29, 2024
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GREYnJ United buoyed by merger

GREYnJ United buoyed by merger

THE boss of GREYnJ United is expecting more growth and overseas opportunity after nudeJEH's merger with global communication network WPP's Grey Group.

Thor Santisiri, chairman of nudeJEH – now renamed as GREYnJ United – said yesterday that Grey Group had acquired 60 per cent of the shares at the new company, following about six months of negotiations. 
On Tuesday, UK-based WPP made an announcement that its wholly owned operating company Grey Group, a global communications network, had agreed to acquire nudeJEH, a leading award-winning advertising and digital agency in Thailand. 
Thor added that the acquisition would open more doors for his agency to access global knowledge, technology and a broader client network via Grey Group. 
“We hope that our business will grow despite intense competition in the industry and the sluggish economy,” he added. 
He said his agency would be able to provide services to new clients under the expanded network, such as Procter and Gamble and Volvo, on top of its current key clients, which include Ananda Development, Bangkok Airways, Bangkok Dusit Medical Services, Bio Consumer, Tesco Lotus and Puriku. In its statement, WPP said the acquisition marked a further step towards its declared goal of developing its networks in fast-growing markets and sectors and strengthening its digital capabilities.
WPP’s digital revenues were US$6.9 billion (Bt246 billion) last year, representing 36 per cent of the group’s total income of $19 billion.
WPP has set a target of 40-45 per cent of revenues to be derived from digital in the next five years.
In Thailand, WPP companies (including associates) generate annual revenues of $150 million and employ almost 2,000 people.
In the Asia-Pacific, WPP companies (including associates) generate revenues of $5 billion and employ around 50,000 staff.
The company also owns digital agency Nine Dotz. Combined revenues for nudeJEH and Nine Dotz for last year were Bt239 million, with gross assets of Bt123 million at the year’s end. 
All nudeJEH’s staff of more than 60 will be automatically transferred to the new firm.
 
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