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Ogilvy & Mather Takes Up Majority Stake In Memac Ogilvy In The Middle East And North Africa

Stocks in this article: WPP WPPGY

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 Eddie Moutran in Bahrain, 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 Middle East and North Africa (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 North Africa 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 Miles Young, Worldwide Chairman and CEO of Ogilvy & Mather.

Miles Young also announced that Eddie Moutran 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 Middle East and North Africa. 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 Eddie Moutran, 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.

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