Korea’s fast-growing digital marketing group Yello Digital Marketing (YDM) announced that it has acquired a majority stake in Thailand’s online marketing firm Adyim Online Agency, for an undisclosed amount.
This will be a significant foreign acquisition deal for the digital marketing industry in Thailand. Under the deal, Adyim’s founder Tanapon Subsomboon will maintain ownership and his position as the CEO.
“Thailand is one of the top-ranked countries in the online advertising industry with the highest growth rate. Among multiple foreign marketing groups offered partnership in the past couple of years, YDM is the most appealing company to strengthen our business in the future,” he said.
According to the company’s statement, YDM will give financial and technological support to make Adyim (which was founded in 2011 as an online advertising network before turning into an integrated online marketing firm) become Thailand’s digital marketing leader in the next three years and one of the best digital marketing groups in Southeast Asia.
Adyim offers all services related to online marketing such as strategic planning, digital content creation, website design, viral video production and social media management.
The statement cited that the market value of the digital advertising in Thailand was around 8 billion baht and shared about 5 per cent of total advertising spending; it had an annual growth rate of 40 per cent.
Comparatively, the digital advertising in China, Europe, Australia and Malaysia, accounts for 10-30 per cent of the total advertising spend. Therefore, Thailand is regarded as a potential high growth market for this sector.
Adyim has grown rapidly over the past four years. It has around 90 employees and has provided services to more than 350 leading brands in Thailand such as L’Oreal, Sabina, SCG, Swensen’s and Index Living Mall.
Meanwhile, YDM is a digital marketing arm of Yello Mobile Group, which is the fastest-growing mobile media group in South Korea and comprises more than 70 companies, focused on shopping, media and content, advertising and digital marketing, travel, and O2O services.
Currently, YDM runs more than 20 companies throughout the South East Asian region across Singapore, Indonesia, Thailand and Vietnam.
“We are just in the beginning stages of aggressively making alliances (M&A) with the leading digital companies in the region. We are constantly looking for companies with high potential and outstanding performance in the digital marketing industry in Southeast Asia. In addition to that, we will continue to encourage synergies among our companies with the aim to become the top digital marketing group in Asia,” said YDM’s CEO Sang Seok Lee.