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XM Asia Pacific buy majority stake in digital creative agency Sofresh

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Soon, Cohen, Viet Vu

XM Asia Pacific Pte Ltd. has bought a majority stake Vietnamese digital creative agency Sofresh.

The purchase is the fourth major acquisition by the JWT company in the last two years and will help expand XM and JWT’s digital offering across ASEAN market.

“This deal gives us a strong, ground zero position in a market that’s about to take off,” said Paul Soon CEO of XM Asia in a statement. “Justin and Ly have built up a very dynamic offering. There’s a real connection with the team at Sofresh, and they are a great fit for XM and JWT.”

Sofresh, was co-founded in 2007 by Ly Viet Vu and Justin Cohen, develops digital strategies, digital creative concepts, content, and marketing campaigns across multiple digital channels, including social media, mobile and the web.

The company has worked with a range of local and global clients, including Diageo, GSK, Kinh Do, Techcombank and Unilever and employs 85 staff.

While internet penetration in Vietnam remains relatively low, at about 30 per cent this is growing rapidly as more of the country’s young population gains internet access.

“We are thrilled to be part of XM Asia and the WPP family. With XM Asia’s vast experience across different markets in Asia and already proving themselves as Asia’s leading digital agency, we found them as the right partner to strengthen our digital offerings which will be unique in Vietnam,” says Cohen.

“Now that we are a part of the JWT network, we will be able to take giant leaps forward in our never ending quest of connecting and strengthening bonds between a consumer and a brand,” says Vu.

JWT Asia Pacific has invested heavily in expanding its digital footprint in Asia over the last two years acquiring Hungama Digital Services in India, taking a stake in Converge, in Pakistan, in 2012, and buying Post Visual, a digital creative agency in Korea in 2013.

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