Publicis said that Betterway was one of the largest full-service agencies in China, and following the acquisition it would be closely aligned with the existing Publicis Groupe network in the country, which has offices in Beijing, Shanghai and Guangzhou. The deal is subject to approval from Chinese regulators.
Headquartered in Shanghai, Betterway is headed by co-chief executives Jenny Zhang and York Huang and has offices in 29 cities, which Publicis said would give it new opportunities throughout the Chinese heartland.
The agency offers services such as creative development, sales promotion, sampling, trade activation, direct marketing and events. Zhang and Huang will remain as minority partners after the deal is completed.
Publicis Groupe has been extending its operations in Asia recently, including the acquisition late last year of relationship marketing agency Tarantula China, which has been merged with Publicis Dialog. It has also taken a controlling stake in Solutions, India's largest marketing services group.
Maurice Levy, chairman and chief executive of Publicis, said: "Given the increasing demands of global advertisers in this market, where we already have a very strong base through our most important brands, our decision to go forward with Betterway will solidify the Publicis network's marketing activities -- allowing us to become an even stronger entity in China."
Betterway was founded in 1998 and employs 360 full-time staff. It is headquartered in Shanghai.
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