Japan's biggest advertising firm acquires US firm

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McGarry Bowen, one of the largest independent advertising companies in New York is set to be acquired by Japan's biggest advertising firm, Reuters reports.

The deal is part of the Japanese company Dentsu's plans to boost revenue outside of its domestic market which the news agency describes as "slowing".

Dentsu is ranked as the world's fifth biggest advertising firm but presently earns over 90 per cent of its revenues in Japan "where growing economic uncertainty is making its clients wary on spending", Reuters reports.

In a company statement, Dentsu said that the acquisition was made by its consolidated subsidiary Dentsu Holdings USA.

It described McGarry Bowen as "rapidly growing" and said it was "being added to the Dentsu Group on this occasion to reinforce the group’s advertising operations in the United States".

Among independent advertising agencies in the United States, McGarry Bowen was ranked 10th.