$1.5 billion in billings
Vizeum consolidates 17 of Aegis' regional, non-Carat media agencies into a communications planning and buying network across the U.K. and Europe that will have more than 200 clients and combined billings of more than $1.5 billion. All shops are being renamed Vizeum.
According to executives at Aegis Group, Vizeum will roll out in the Asia-Pacific region and in North America later this year.
The new network is being led by Eric Drancourt, formerly CEO of Carat International France, who becomes Vizeum's CEO, and Martyn Rattle, formerly vice president of Carat International London, who will be the new network's chief operating officer.
Aegis Media, meanwhile, will allow both networks to share back-office functions.
"The creation of Aegis Media will allow us to both maximize the scale and efficiency benefits that exist within the Aegis Group and provide us with an improved platform from which to grow the business," Doug Flynn, CEO of Aegis, said in a statement.
Mr. Flynn will assume additional responsibilities as chairman-CEO of Aegis Media, which will be headquartered in London. David Verklin, currently CEO of Carat North America, will also serve as regional CEO of Aegis Media for North America and Latin America.