Honolulu, Hawaii –Tokyo-based Vector, Inc. will acquire and merge resources with Honolulu based PacRim Marketing Group, Inc. and its sister companies PRTech, LLC. and PacRim Marketing Tokyo, KK. The acquisition will make Vector one of the largest independent media communications firms in Asia-Pacific region, with nine offices in Asia and one in the U.S., revenue of over US$90 million, and combined totals of more than 500 employees and 50 years of marketing and public relations experience in Asia. The agreement includes a long term commitment from PacRim Marketing Group and PRTech to continue management of its Honolulu/U.S. office and client accounts.
Vector, which specializes in combining strategic integrated public relations and media with technology and video production, has grown nearly 30 percent year-on-year in revenue terms for the past five years and was the first public relations agency in Japan to list in the First Section of the Tokyo Stock Exchange; PacRim Marketing Group, which focuses on multilingual integrated marketing to help brands and organizations increase share and spend of the Asia market, is one of the top grossing public relations firms in Hawaii, listed as the #1 PR firm for the past five years in the Book of Lists published by PBN (Pacific Business News).
The acquisition is significant, as it increases opportunities for PacRim and PRTech clients to expand their reach and impact in Japan and Asia, including China which has become an important market for Hawaii, the Pacific Region, and North America. Vector and PacRim Marketing Group and PRTech have been utilizing resources in China to gain a larger share of its affluent consumer market; Vector has wholly owned offices throughout Asia, including in Shanghai, Beijing, Taiwan, Hong Kong, Vietnam, Singapore, Indonesia, Malaysia, and soon in India.
The companies also have pioneered innovative multilingual products, services, and media platforms to market brands throughout Asia. Through the acquisition, clients will have access to cutting edge public relations solutions and consultation offered by Vector and its many subsidiaries, including PRTimes, NewsTV, and VideoWire (an Asian newswire service), and companies focused on digital public relations, social media marketing, and video production with celebrity talent casting. Clients will continue to benefit from media platforms and products developed by PacRim Marketing Group as well. These include Japanese, Korean, and Chinese travel websites, multilingual hotel reservations systems, and Asian language visitor guides and other media ventures reaching the Asian International Traveler market.
“I’m impressed by PacRim Marketing Group’s 26-year history of innovation and its multicultural and multilingual teams and how they’ve embraced digital solutions as an integrated PR firm; our marketing communications services and solutions will complement each other,” said Vector Inc. President and Global Chairman Keiji Nishie. “Acquiring one of the top marketing firms in Hawaii is a natural step to increasing the quality and scale of our public relations business, as it increases our network and marketing expertise at the gateway to Asia and U.S. markets.”
Vector’s client base consists of mostly Japanese brands, while the bulk of PacRim’s clients are North American and Pacific Region based brands and organizations wanting to increase exposure and resonate with consumers throughout Asia, specifically Japan, Korea, China, Hong Kong and Taiwan.
The combined list of clients crosses financial, retail, business, and tourism industries. PacRim will use its expertise in travel, tourism, and hospitality marketing and an alliance with CONSUL, a consortium of the world’s top travel marketing agencies, to help market to outbound visitors from Japan and the region, and also inbound, independent, international travelers to Japan. This business strategy supports Japan’s goal to increase inbound visitor count to 40 million by the 2020 Tokyo Olympics.
“Vector has a deep understanding of Asian consumers and their media consumption as well as how to develop content and powerful digital platforms to resonate with them,” said Dave Erdman, founder, president and chief executive officer of PacRim Marketing Group, Inc., PRTech, LLC. and PacRim Tokyo, KK. “Our clients will benefit from the creativity and innovation resulting from synergies and shared media platforms, expertise, networks, and contacts throughout Asia.”
The acquisition is anticipated to close by the end of 2016.