OgilvyInteractive, AsiaNetCorp Form Joint Venture
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OgilvyInteractive, the interactive division of advertising firm Ogilvy & Mather, on Monday formed a joint venture with AsiaNetCorp, which will be called Ogilvy AsiaNet and will provide Web development and online advertising in Hong Kong and Korea.
Plans for the joint venture include expansion into other Asian markets, including Taiwan and China.
The deal marries OgilvyInteractive's advertising expertise with AsiaNetCorp's technology and e-commerce capabilities. The idea is to provide a one stop shop where customers can get front-end services like design and marketing strategy, as well as back-end technology services.
AsiaNetCorp is a holding company which invests in Internet-related firms across Asia. Its group of 19 companies, which are primarily located in South Korea and Greater China, operate in the Internet media, advertising and e-commerce space.
"AsiaNetCorp has a range of highly complementary Internet-related businesses and has highly competitive proprietary technologies. Leveraging these, the JV can mobilize processes and resources to provide total Web solutions for our clients."