SEOUL, SOUTH KOREA — Cheil Worldwide announced the conclusion of a share purchase agreement with ColourData, one of China’s leading and most innovative social big data analytics service providers, to strengthen its data-driven marketing capability.
Cheil Worldwide has worked with ColourData on several social media digital marketing projects in China and moved to acquire the company after recognizing its competitive technology and high potential for growth.
The acquisition empowers Cheil Worldwide to deliver more robust marketing analytics to its existing clients, while also enhancing its business development potential in China across a range of industries. The move will also contribute to the continuous growth of Cheil Worldwide’s digital business, which now accounts for over 40 percent of revenue.
ColourData utilizes proprietary expertise to analyze data from over 5,000 Chinese social media, news, and e-commerce websites to serve a global client base that includes Samsung Electronics and Pfizer.
The acquisition reinforces Cheil Worldwide’s data-driven marketing approach, boosting its core capacity in the area and enhancing its capability to attract new clients.
Cheil Worldwide continues to pursue M&A deals with digital-oriented agencies around the world to power the company’s future growth momentum.
Due to a confidentiality clause in the contract, the specific terms and conditions of the acquisition were not disclosed.
