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Publicis Groupe acquires Beijing-based Longtuo

Publicis Groupe, the world’s third largest advertising and communications group, said on Monday it has acquired a local digital marketing agency to cash in on the booming domestic online shopping market.

Beijing-based e-commerce service agency Longtuo will become a part of Publicis Groupe’s subsidiary Razorfish to complement each other’s business at a time when consumers are moving to online buying channels and TV advertising has been curbed by regulators.

The acquisition of Longtuo is a key step in Publicis Groupe’s objective to double its size in the fast-growing Chinese market between 2010 and 2013.

(Source: Shanghai Daily )