Paris-based Publicis Group, the world's fourth-biggest marketing-services group, will acquire 60 per cent of Solutions Integrated Marketing Services for an undisclosed sum, subject to Foreign Investment Promotion Board (FIPB) approval. |
Solutions Integrated Marketing provides direct, digital, retail, promotional and event marketing services to clients including Hewlett-Packard, Microsoft, Cisco, Gillette and ESPN. The acquisition is meant to enhance Publicis' presence in the Indian marketing space. |
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The Publicis Group's presence in India is through Leo Burnett, Saatchi & Saatchi, StarcomMediaVest, ZenithOptimedia and Publicis Worldwide (with Publicis India and Publicis Ambience). |
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Solutions Integrated Marketing, post the acquisition, will become a resource for all Publicis Group agencies, particularly to its large global marketing services networks namely Arc Worldwide, Saatchi & Saatchi X, and Publicis Dialog. These networks will allow Solutions Integrated to deliver marketing services solutions to Publicis' clients. |
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"Specialised agencies and marketing services are a key investment area for the group, which is especially true for a fast-growing economy like India," said Maurice Levy, chairman and CEO of Publicis Group, in a statement. |
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Levy added that developing countries such as India could see explosive growth in marketing services "� which could include everything from staging promotional events to helping companies figure out better ways to sell their products. |
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"India will be an increasingly critical area for us and we are thrilled to have Solutions Integrated on board, to provide world-class marketing solutions for our clients who continue to invest in India and South Asia," said Levy. |
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On growth prospects, Levy said: "There is almost no infrastructure in marketing services, and you can expect tremendous growth because we are starting from a very low base." |
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Srikant Sastri, co-founder and managing director of Solutions Integrated said: "With Publicis, we have access to global resources, making us a better organisation and helping us deliver greater value for our multinational clients." |
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