Figtree brand consultancy acquired by US-based independent Prophet

The move aims to create a company with a larger global footprint that is "equally facile in strategy and creativity" according to Prophet, which has offices in Germany, Switzerland and London in addition to four locations spread across the US. 

The two companies have "a unique and powerful blend of strategy and creativity", and Prophet is "excited to join forces with a firm that is helping Asian companies go global as well as helping global companies succeed in Asia”, said Michael Dunn, Prophet's chairman and CEO.

John Holton, Figtree co-founder, told Campaign Asia-Pacific that the acqusition will mean additional resources to build the business in Asia, as well as a broader offering for existing clients. David Brabbins, Figtree's managing director in Hong Kong, said the combined company will offer strong digital competency, innovation consultancy, analytics, and rigorous brand strategy.

Holton and Brabbins both cited the importance of remaining independent. "We wanted to join forces with a company we're really confident in rather than join a big network," Brabbins said.

Prophet has clients in sectors where Figtree hasn't done much work, including FMCG and financial services, Brabbins said. Prophet has worked with BMW, Cisco, GE, McDonald’s, Johnson and Johnson, and Zurich Financial. In Hong Kong, Figtree has done work with ThyssenKrupp, Stella McCartney and the Music Matters conference. The company recently won a global rebranding remit from InvestHK.  

As reported by Daniel-Farey Jones of Brand Republic, Figtree was advised on the sale by Results International, whose managing partner Keith Hunt said: "Figtree’s Hong Kong office, launched 18 months ago, has grown quickly and is a rare international success story among independents in the sector who have trodden a similar path."