Y&R on acquisition spree?

Singapore - Young & Rubicam (Y&R) looks close to inking a deal to acquire three mid-sized agencies in Singapore - The Audience Motivation Company Asia (AMC), Formul8 and The Upper Storey.

The WPP agency, which had also been reported to have cooled its interest in local agency 10AM, would not confirm the news or comment on the progress of the acquisitions. Marketing believes talks have and will be going on for some time. A Y&R spokesperson declined to acknowledge the news but said acquisitions are "sensitive issues".

Y&R's interest in acquiring AMC could be based on the latter's strength on retainer large scaled events and conferences - clientele covers a wide range of industries. Y&R might also be attracted to the agency's strong regional presence - AMC has satellite companies operating out of Malaysia and Thailand as well.

Formul8's TTL capabilities and client portfolio - the agency has worked with Y&R on joint accounts - could be reasons why it has piqued Y&R's interest and in the case of The Upper Storey, the agency has a reputation for having strong tech capabilities in web.

AMC Asia and Formul8 declined comment while at press time The Upper Storey could not immediately respond.