Dentsu bought steak [insert Kobe beef joke here]

Steak has has been acquired by Dentsu Inc., the fifth largest marketing communications company in the world. Dentsu operates across over 100 offices in 27 countries and is the top advertising and media company in Asia.

Founders Oliver Bishop and Duncan Parry want to take this opportunity to publicly thank everybody who has worked for and with Steak over the past 6 years - clients, colleagues, board members, advisors and suppliers - for being part of our success to date in Europe, America and Australia.

Jim Kelly, CEO of Dentsu Europe said, "I have followed Steak's progress since it started in 2005, and admire enormously what Ollie and his partners have achieved. Digital media is a cornerstone of Dentsu Network West's growth strategy. This acquisition is a great step in offering class leading digital solutions to our clients in Europe".

Ollie Bishop said, "I'm excited about being part of Dentsu. They take digital seriously and want to be a leader in online marketing- and that's exactly our ethos at Steak. It's a perfect fit - we'll continue to grow as Steak and as a major part of Dentsu in Europe. Everyone past and present at Steak Group's companies in London, New York and Melbourne should be proud of what we've achieved in a short space of time - and look forward to an exciting

The partnership enables Steak to both work with Dentsu's European offices, and to offer to its clients Dentsu's media expertise throughout Asia. Steak is currently exploring opportunities for its clients in South East Asia.

The acquisition also doubles Dentsu's size in the UK (alongside Dentsu London and Dentsu Sports), and follows on Dentsu's acquisition in January of the D├╝sseldorf based digital creative agency, Social Thinkers, further substantiating Dentsu's commitment to digital growth and success in Europe. Jim Kelly will join the Steak board of directors along with Tim Andree, CEO of Dentsu Network West, and Executive Officer, Dentsu Inc. Seb Bishop will remain as non-executive Chairman.

Steak's operations will continue to be run from its headquarters in Shorts Gardens, Covent Garden, London.