Aegis Group plc, a leading media and digital communications group, has acquired digital consultancy and search marketing agency Communicate 2 Pvt Ltd (C2) . The deal amount was not disclosed but C2 had assets of Rs 12.9 crore as of 31st March 2012.
As part of the transaction, C2 will be merged with iProspect India's existing operations, strengthening its network in key cities across India and providing additional service capabilities for its clients. iProspect is a digital marketing agency that is part of Aegis Media, a part of Aegis Group plc.
The acquisition is in line with the Aegis Group's strategy of increasing its digital profile and capability in faster growing regions. Vivek Bhargava would continue to lead this merged entity as CEO.
"Aegis Media's iProspect global network gives us access to global tools and the scale of the iProspect network. Globally, over 35 per cent of Aegis Media's revenues come from digital (highest amongst all media groups), which made it the best choice as our partner," said Bhargava, MD, Communicate 2.
Established in 1997, Communicate 2 focuses on search marketing, strategic digital consultancy, social media and digital content production. The company's clientele includes Tata Consultancy Services, Cleartrip, ICICI Lombard and HDFC Bank as well as international businesses like Travelocity, Aviva Insurance and American Express. The company has offices in Mumbai, Delhi and Pune and its employee count is over 130.
Aegis Group plc is made up of two operating businesses, Aegis Media (that comprises of Carat, Vizeum, Posterscope, Isobar and iProspect) and Aztec- the scan-based market and consumer insights company. Aegis Group plc shares are listed on the London Stock Exchange.
Ashish Bhasin, Chairman India and CEO South East Asia, Aegis Media, said, "Search will be the fastest growing part of our industry for the foreseeable future and as part of the iProspect network, Communicate 2 will continue to be the undisputed leader in this area. I have also invited Vivek to join the Aegis Media India Executive Council."
(Edited by Prem Udayabhanu)