Mirum makes an agreement to acquire 3Ti in Shanghai expanding footprint + service in China
Mirum has agreed to acquire 3Ti Solutions Inc (“3Ti”), a digital business transformation and innovation consulting company headquartered in Shanghai. Following completion of the acquisition, 3Ti will be rebranded as Mirum, and will work closely with J. Walter Thompson China.
3Ti was founded in China in 2005 by Andrew Tong (pictured) to service both global and domestic clients. The company’s services span digital business strategy consulting, product design and development, software and mobile app development. 3Ti provides Internet + and IoT solutions and has designed and developed smart wearables, smart office, smart health and smart finance products for leading clients.
3Ti is also a strategic partner for WeChat, bringing deep ecommerce and social marketing solutions to global brands looking to build business in China.
The company employs around 100 people, including data scientists, project managers, technical experts and consultants, in three offices in Shanghai, Shenzhen and Xi’an. Key clients include China CITIC Bank, Bank of Communications, Mastercard, UnionPay, China Eastern, Ctrip, Geely, Michelin China, IKEA, OPPO Electronics Corporation, BenQ Corporation, Shiseido and Fosun. 3Ti’s unaudited revenues for the year ending December 2016 were RMB 66.8 million, with unaudited total assets of RMB 40.3 million as at the same date.
“The Mirum family is proud and honoured to have 3Ti join us. Our teams have been working well in partnership with Andrew for the last few years with several clients. His team will augment and strengthen Mirum’s existing capabilities – not just in APAC, but globally as well,” said Mirum’s Global CEO, Dan Khabie.
“3Ti and Mirum both share a long history of a culture of innovation and service of excellence to clients and this will only grow exponentially at Mirum in China,” said Tong. “The combined forces will now offer even more amazing localized products and services to help global brands grow their digital business in China. At the same time, we can further help Chinese domestic clients to expand and invest overseas. This will be a win-win for us and all of our clients.”
3Ti’s offering will establish a foothold in China for Mirum, which currently operates in Asia in Hong Kong, Manila, Vietnam, Thailand, Indonesia and Singapore. The acquisition will also augment Mirum’s offering, by adding an R&D capability aimed at developing proprietary programs.
“This acquisition is a core component of the J. Walter Thompson Company’s strategy in APAC, as we continue to look towards creative innovation and product solutions to solve human challenges and business problems. The 3Ti business provides new skills that complement the group very well. I see this marriage, between creativity and technology, being incredibly powerful,” said John Gutteridge, Asia Pacific CEO of the J. Walter Thompson Company.