Cheil Worldwide has acquired Centrade Integrated in South East Europe to help broaden its business platforms across Europe as well as bolster its global business accounts.
Centrade Integrated serves a wide variety of clients in South East Europe providing digital marketing solutions for P&G, Raiffeisen Bank as well as operating and managing Samsung.com site.
Cheil Worldwide further aims to continue with its merger and acquisition activities by targeting agencies involved in digital innovations dealing with data, digital marketing, and e-commerce.
Cheil will also target to expand business in UK and US and emerging markets like the South West Asia and the Latin America.
Jeongkeun Yoo, president and CEO of Cheil Worldwide, said: “Cheil Worldwide has been committed to transforming itself from a traditional ad agency to an integrated digital creative solutions company. I am confident that the acquisition will help bolster our digital capabilities in the global market."
Radu Florescu, CEO of Centrade Integrated, added: "We are delighted to be fully integrated in the Cheil network. Our past two year collaboration has demonstrated strong results for our clients and we look forward to expanding our digital marketing footprint in the region."