O&M acquires majority stake in Memac Ogilvy [Gulf Daily News (Bahrain)]
(Gulf Daily News (Bahrain) Via Acquire Media NewsEdge) MANAMA: Ogilvy & Mather (O&M) has announced the acquisition of a majority stake in Memac Ogilvy.
Founded in 1984 by Eddie Moutran in Bahrain, Memac Ogilvy has been associated with O&M since 1986.
O&M became a minority shareholder in the leading marketing services company covering markets throughout the Middle East and North Africa (Mena) region more than 18 years ago.
"For nearly 30 years, we have enjoyed a long, creative and successful relationship with Memac Ogilvy. In that time Eddie has built a fabulous agency which is doing leading-edge work for many local, regional and international brands.
"The Middle East and North Africa are areas of unique opportunity in the marketing communications business; this is the right time for us to recognise that, and jointly and aggressively execute our plans to build the network here," said O&M worldwide chairman and chief executive Miles Young.
Mr Young also announced that Mr Moutran has been elected a member of the O&M worldwide board.
"When I started the business in 1984 we had one office, one client and four staff," said Mr Moutran.
"Three decades later we are the leading integrated marketing communications network in the Middle East and North Africa.
"This agreement continues the deep integration with O&M we have enjoyed since our partnership began.
"The values and spirit of Memac and Ogilvy are a natural match. We are one network offering clients in the region the full slate of integrated marketing communications services," he added.
Memac Ogilvy serves more than 150 international, regional and local brands including IBM, Coca-Cola, Arab Bank, Almarai and American Express and employs more than 570 people in its 14 offices throughout the region.
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