Vivendi's advertising arm Havas looks to expand PR offerings with £87m investment

 
Josh Mines
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Havas chairman and chief executive Yannick Bollore announced the news on Thursday (Source: Getty)

Havas, the advertising arm of French giant Vivendi, today announced a €100m (£87m) plan to bolster the offerings of its PR agencies under communications unit AMO.

AMO was formed by the Havas Group's financial communications agencies in London, New York and Paris in 2001, and employs 1,200 people in agencies across 51 countries globally.

The money will go towards growing its local agencies and expanding through mergers and acquisitions (M&A).

In the last year alone, AMO agencies have advised on almost 300 M&A deals worth €240m (£210.4m). It has led on major agreements including T-Mobile and Sprint's mega merger earlier this year.

Havas said the investment represented its commitment to serve the growing needs of the network's blue chip clients.

The resources will mean the company can grow in markets including the US, UK, France Germany and China.

Read more: Yannick Bollore named as Havas Boss

Speaking to the media today, Havas chief executive and chairman Yannick Bollore said: "We believe it is very important to have best in class local agencies, but we didn’t see until recently we needed a global network.

"It’s an important day for AMO as we announce a shift from collective agencies to a network.

"The idea is to take advantage of the fact we are number one for M&A and really build the network. Clients still want best in class agencies, but they also want a global network."

Angus Maitland, co-chairman of the AMO network and founder of one of its agencies, Maitland, added: "This major investment commitment by Havas and its continued support in our development represents a major step forward in strengthening AMO's position as the leading international corporate and financial communications consultancy."

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