After acquiring Fresh IMCS, an integrated marketing company, Aegis Media India, part of the Aegis Group Plc, is planning to acquire a leading search marketing firm in India. To strengthen its presence in domestic markets, Aegis Media is also looking at tie-ups in the digital and OOH (out-of-home) communications space.
Yet another media major, Group M India, part of the WPP Group Plc, is also aggressively looking for acquisitions in India to add value to its media services. Likewise, Lintas Media Group is looking at strategic tie-ups to broaden its reach of services in the realm of media in the industry. Despite the current economic downturn, media agencies are looking for acquisitions to gain a competitive edge in the Rs 23,000 crore India media buying industry. On the agency?s growth strategy, Vikram Sakhuja, CEO of Group M (South Asia) said, ?We are looking at both organic and inorganic growth plans. Also, we are looking at both acquisition and strategic tie-ups in India.?
According to Ashish Bhasin, chairman India & CEO South East Asia, Aegis Media, the agency is planning to enter the Sri Lankan market within a year as part of its organic growth strategy. On Aegis Media?s acquisition plans, Bhasin said, ?We are in talks with a significant player in the search marketing space. We are open for equity as well as tie-up in this sector. Also, we are looking for tie-ups in digital and OOH sectors.?
Across the road, Lintas Media Group (LMG) is also scouting for acquisitions to extend its services in domestic markets, according to Sudha Natrajan, COO & president LMG. ?In fact, all our strategic tie-ups have not been only in name, but have been successful. While there has been a lot of momentum in organic growth the past few years, due to the boom, concerted efforts into acquiring businesses to contribute to inorganic growth has been followed from last year,? she added.
In addition to their acquisition plans, media majors are chalking out aggressive growth plans in India. For instance, Aegis Media is extending its presence in Kolkata and Bangalore. Currently, the agency has offices in Mumbai, Delhi and Chennai. Two months ago, Aegis Media extended its network in South East Asia.