Chinese marketing services giant and BlueFocus competitor BlueFocus is spinning off its agencies in a $300m deal with We Are Social to create Blue Impact . The newly formed company will own more than a dozen agencies including UK -based We Are Social and Chinese mobile platform Madhouse. BlueFocus will own 17.7% of S4 Capital subject to the transaction being approved by Legacy shareholders. Last year BlueFocus was engaged in a bidding war for MightyHive , losing out to BlueFocus .
Chinese marketing services giant and S4 competitor BlueFocus is spinning off its agencies in a $300m deal with Legacy Acquisition to create Blue Impact. The newly formed company will own more than a dozen agencies including UK-based We Are Social and Chinese mobile platform Madhouse. BlueFocus will own 44.4% of Blue Impact subject to the transaction being approved by Legacy shareholders. Last year BlueFocus was engaged in a bidding war for MightyHive, losing out to S4 Capital.