IPG Mediabrands acquires Interactive Avenues

06 Mar,2013

By A Correspondent

 

IPG Mediabrands, the media holding company within Interpublic Group, today announced the acquisition of Interactive Avenues, India’s largest independent full service digital agency. With close to 200 employees across offices in Mumbai, Delhi and Bangalore focusing exclusively on digital marketing and technology, the acquisition of Interactive Avenues’ renowned media, creative and digital production units cements IPG Mediabrands’ position as a leading digital buying unit in the rapidly expanding Indian market, as well as the second largest media holding company.

 

After the launch of Reprise Media in India in 2011, this new move continues IPG Mediabrands’ strong commitment to implementing industry leading digital services across all of its agencies and will allow it to accelerate its timetable for the launch of its new Cadreon offering, notes a communique.

 

Interactive Avenues will become an important strategic part of IPG Mediabrands’ Mediabrands Audience Platform (MAP), the group of data driven digital services and technologies that focus on search, display, mobile, social, video, applications and e-commerce.

 

Interactive Avenues was founded in 2006 and has one of the top three clients in almost every category including consumer electronics, FMCG, technology, telecom, banking, insurance, travel, ebusiness and education.

 

The move further strengthens the network’s digital capabilities in India and makes for an even stronger digital foundation for IPG Mediabrands and its clients in the Indian market.

 

“India is a key market for IPG Mediabrands and for IPG as a whole. This acquisitions affirms our commitment to making investments in high growth disciplines and geographies.  We believe India is one of the fastest growing and most important global markets. IA has a fantastic track record in India and great future as a part of IPG Mediabrands,” commented Matt Seiler, Global CEO, IPG Mediabrands.

 

“We have a clear vision for MAP in India. Interactive Avenues fits perfectly into this”, said Brendan Moorcroft, Global CEO of MAP. “Because we already have an established partnership with Interactive Avenues, we know their strengths and understand and share their core values..”

 

Interactive Avenues will sit alongside established IPG Mediabrands agency Reprise Media in the new MAP structure. The acquisition and integration into MAP India will have no impact on the day-to-day running of the agency which will remain as it is now. Interactive Avenues will continue to operate as an independent brand within the MAP structure. The company’s co-founder Amar Deep Singh will be MAP India CEO.

 

“After a dream run of seven years, we are ready for our next phase of growth,” Mr Singh said. “In IPG Mediabrands we have the right partner. They give us access to three fundamental growth catalysts; access to global tools technologies and best practice; access to markets beyond India; and access to global clients in India and beyond. It is a true meeting of minds and cultures, andI am thrilled to be working with such strong local and global leadership. There are exciting times ahead with our plans to develop and launch MAP’s specialist offerings Cadreon, Spring Creek Group and Ansible in India.”

 

This marks a successful exit for Interactive Avenues’ current investors, WestBridge Ventures II Investment Holdings formerly Sequoia Capital Investment Holdings II and Anupam Mittal.

 

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