DUBAI, United Arab Emirates
March 12, 2014
/PRNewswire/ -- Ogilvy & Mather today announced that it has acquired a majority stake in Memac Ogilvy. Founded in 1984 by
, Memac Ogilvy has been associated with Ogilvy & Mather since 1986. Ogilvy & Mather became a minority shareholder in the leading marketing services company covering markets throughout the
(MENA) region over eighteen years ago.
"For nearly thirty years, we have enjoyed a long, creative and successful relationship with Memac Ogilvy. In that time Eddie has built a fabulous agency which is doing leading-edge work for many local, regional and international brands. The Middle East and
are areas of unique opportunity in the marketing communications business; this is the right time for us to recognise that, and jointly and aggressively execute our plans to build the network here," said
, Worldwide Chairman and CEO of Ogilvy & Mather.
also announced that
has been elected to be a member of the Ogilvy & Mather Worldwide Board.
"When I started the business in 1984 we had one office, one client and four staff. Three decades later we are the leading integrated marketing communications network in the
. I'd like to thank our clients, staff and my family for their support and trust. This agreement continues the deep integration with Ogilvy & Mather we have enjoyed since our partnership began. The values and spirit of Memac and Ogilvy are a natural match. We are one network offering clients in the region the full slate of integrated marketing communications services," said
, CEO Memac Ogilvy.
"It is a testament to the quality of the agency Eddie has built, his own leadership, his unstinting passion and the award-winning work we do for clients that he was honoured with the Dubai Lynx Advertising Person of the Year 2014 award," continued Young.