Dentsu has acquired Publicis Groupe's shares in Dentsu Razorfish, turning the joint-venture company into a wholly owned subsidiary of Dentsu Digital Holdings.
Publicis previously held nearly 20% of Dentsu Razorfish. Following the acquisition, the Tokyo-based agency will become known as Dentsu iX, from July under a rebranding initiative.
In a statement Dentsu described the agency as "a specialized one-stop agency that provides digital solutions for sophisticated and diverse needs."
The new name "reflects the company’s desire to create innovative experiences."
Hidetoshi Tokumaru, president and CEO of Dentsu iX, told Campaign Asia-Pacific the acquisition would not result in any changes in terms of operations and that it would continue to function as a full-service digital agency.
But Tokumaru noted that business-development activities would now be carried out in collaboration with Dentsu Group’s global network of digital agencies.
He clarified that iX stands for "innovative experience" and is based on the concept of "providing people with new values generated through the relationships and experiences consumers have with a company or society."
This article first appeared on campaignasia.com.