Dominant advertising agency Dentsu Inc. has locked sights on as many as 60 acquisition targets to bring more technology and talent to its global business.
The deals pipeline includes mostly small and midsize companies, a contrast with the company's record ¥409 billion purchase of Aegis Group in 2013, said Tim Andree, executive chairman of Dentsu's international business. The firm bought 36 companies last year, and the pace is not letting up, he said.
"We've got a lot of momentum and I think M&A plays a role in that," Andree, 54, said in an interview at Dentsu's Tokyo headquarters this week. He declined to give a financial target for deals this year. "If you look at our organic growth, it's a nice balance with what's been occurring in M&A."