Global marketing agency, VML, part of the Y&R network, today announced the agreement to acquire Teein, one of the country’s pioneer social media agencies.
Established in 2004, Teein employs approximately 170 people in its Shanghai HQ. Offering social listening, social marketing and social CRM, full-service social agency Teein uses self-developed products to deliver brand socialization integrated solutions to great brands including, Estee Lauder, Google, SAP, Danone.
For the year ending 31 December 2013, Teein’s unaudited revenues were RMB 43.5 million, with gross assets of RMB 13.3 million, as of the same date.
Teein will continue to be headed up by its CEO and Founder Roy Yan, and becomes a key part of VML’s current operations in China.
Jon Cook, Global CEO of VML said, “This acquisition solidifies our position as the leading digital agency network not just in China but the region, expanding the VML social media offering to ensure global clients are best served. It further diversifies our global presence while building VML’s expertise of local and regional markets."
Matthew Godfrey, President of Y&R Asia, said, “We are delighted to welcome Teein into the Y&R family. To help our clients, it has long been our strategy to build the best, most extensive network in the region across VML and Y&R Advertising — which we have done. Teein is a perfect addition to our full complement of people, resources and tools.”
Chris Tung, CEO of VML operations in China commented, "We are thrilled to extend VML IM2.0’s social media capabilities in China with this acquisition of Teein. This takes us closer to realising our vision of building the strongest digital agency in China - a full digital marketing powerhouse integrating social marketing and e-commerce capabilities."
Roy Yan, CEO of Teein added, "We're very happy to become part of VML in China. VML's global expertise and strength in China means there are significant opportunities for our growth together and propels us to a leadership position.”
VML now has multiple offices in the Asia-Pacific region, including Jakarta, Mumbai, Singapore, Sydney and Tokyo. VML now has 24 offices with more than 2,000 employees worldwide.