Hakuhodo DY Holdings buys into innovation firm Ideo

Hakuhodo DY Holdings has announced that its strategic operating unit Kyu will invest in Ideo, a renowned design and innovation firm based in the United States. It will now have a 30% equity stake in the company.Ideo has 10 global offices in New York, Boston, San Francisco, Palo Alto, Chicago, London, Munich, Shanghai, Singapore and Tokyo.  The company has also reached an agreement with Ideo’s shareholders to have an option to purchase a majority interest at a future date.The Hakuhodo DY Group has put forward in its current Medium Term Business Plan the acquisition of and investment in specialist creative service companies that offer advanced brand building methods and solutions as a key driver of growth. The company claims that the investment in Ideo is part of this endeavor."Through its superlative creativity and innovation we expect IDEO to have great synergy with the current members of Kyu - SY Partners, Red Peak Group, Digital Kitchen and Sid Lee," the statement read.Ideo will also contribute to the growth of the Group’ s international operations going forward, although the impact of the investment in Ideo on consolidated performance in the year ending March 31, 2016 will not be material.