Japanese advertising agency Dentsu is not looking for any big acquisitions to spur its growth in emerging markets and digital, the head of its global operations outside Japan said on Wednesday. "Acquisitions are not a strategy in and of themselves. They need to back up our goal and complement where we are already present," Tim Andree, executive chairman of Dentsu Aegis Network, told the annual Morgan Stanley Technology, Media and Telecoms Conference in Barcelona.Dentsu's stance comes as some investors and executives, including Martin Sorrell, the head of the world's biggest ad agency WPP, believe that another round of consolidation is brewing among advertising groups.With the advent of online advertising agencies are competing with a wider range of companies including web giants like Google and Facebook as well as software and consulting companies like Accenture and IBM.Customers are demanding price cuts on marketing budgets, and beginning to call into question the ad agencies' role in media buying, or placing advertisements.
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