The American ad market is in trouble, but will it be any better overseas? That’s the thinking at Microsoft-owned (MSFT) Razorfish, which picked up Spanish digital firm Wysiwyg yesterday for an undisclosed amount.
Razorfish is targeting acquisitions in Europe and emerging markets as growth in the U.S. slows, Chief Executive Officer Clark Kokich said in an phone interview today. Seattle-based Razorfish owns agencies in the U.K., Germany and France and coming purchases will be in Asia or Latin America, Kokich said.
“A lot of these markets are growing more quickly than the U.S.,” and emerging markets are growing dramatically, Kokich said. “The upside and terms of the scale of growth far exceeds what we see in U.S.”
Also interesting: Kokich flatly denies August reports Microsoft was trying to offload its stake in Razorfish, possibly to WPP.
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