Dentsu Aegis Network SEA acquires Singapore-based digital marketing agency Happy Marketer

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Published: February 22, 2019 12:16:39 AM

Dentsu Aegis Network SEA on Thursday said that it has acquired 100% of Happy Marketer Group, a digital marketing agency headquartered in Singapore.

Dentsu Aegis Network SEA acquires Singapore-based Happy MarketerDentsu Aegis Network SEA acquires Singapore-based Happy Marketer

Dentsu Aegis Network SEA on Thursday said that it has acquired 100% of Happy Marketer Group, a digital marketing agency headquartered in Singapore.

Post-acquisition, the firm will be rebranded as Happy Marketer, a Merkle Company and its offerings will be integrated with Merkle Asia Pacific to help widen the base for the brand in the country, the firm said.

The firm did not reveal the details of the transaction. However, industry sources indicated that the transaction was based on an earn-out. “There would be an initial payment of about Singapore dollar (SGD) 20-22 million which could then follow with earn out that might be two to three times of the initial amount based on achievement of certain milestones,” a source said. FE could not independently verify these details.

Happy Marketer provides data, analytics, CRM, performance marketing, and marketing technology to power data-driven customer experience solutions for its clients, extending Merkle’s services across Southeast Asia. The firm began its operations in 2009 and its core forte lies in providing digital marketing consulting services to banks, insurance firms, tech firms, hotels, airlines, among others.

Prantik Mazumdar, managing partner of Happy Marketer told FE that their immediate goal is to figure out how to scale across Southeast Asia. “Our key markets are Indonesia, Brunei, Vietnam and Philippines in Southeast Asia. We already have presence in Brunei and Philippines while we will be entering Vietnam and Indonesia,” he said.

Talks regarding the deal began two years back when Merkle reached out to Happy Marketer, Mazumdar pointed out. “Merkle itself was acquired by Dentsu Aegis Network a few years ago. It is very fair to say that our DNAs are very similar — just that they started almost 20 years before we did. Merkle was given a mandate to scale up its operations in India,” Mazumdar said.

He further indicated that Happy Marketer recorded revenues of SGD 11 million in 2018 with a net profit of SGD 3.8 million.

Established in 2009, the firm claims it has clients like Practo, Urban Ladder, Standard Chartered Bank, and Amity University. It has a team size of 55, of which 30-odd members are based in India.

Phil Teeman, CEO of Dentsu Aegis Network Southeast Asia and Singapore, stated in a release that Southeast Asia is a critical growth driver for Merkle’s expansion.
“With this acquisition, the delivery and management of data analytics and customer experience marketing, which are Happy Marketer’s key competencies, will take the front seat, helping Dentsu Aegis Network reinforce itself as a key player.

“This also translates into greater opportunities to penetrate new and existing clients’ ecosystems in the Indian subcontinent,” he said.

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