Percept buys Allied Media

Percept Holdings, which recently snapped its seven-year partnership with the UK-based Aegis Group Plc, today announced the acquisition of Shripad Kulkarni's Allied Media for an undisclosed sum.

Kulkarni was the erstwhile COO of Carat Media, the Aegis group's Indian media services operation.

Post acquisition, Kulkarni will continue to lead Allied Media as a key stakeholder, the company said in a statement.

Percept also announced the launch of Percept Media, its integrated media offering under which it will bring in its existing services under Percept Media.

These include Posterscope (outdoor media business), PDM (event and sports marketing), Web Percept, P9 Integrated, Tiger Sports and Percept Activa.

The new entity is expected to cross a capitalised billing of Rs 670 crore in 2007.

These include all of its media business, which was earlier committed to Carat India under the joint venture agreement with Aegis, that will now handled in-house. Some of these accounts include Pantaloon's (Future Group) and the RBI.

The integrated services will currently be offered only through Percept's Mumbai and Delhi offices before it's extended to at least 23 offices across India.

Percept Media currently has a team strength of 300 and this will further increase to about 350 by mid 2007.

Said Shailendra Singh, joint managing director, Percept Holdings, "In its first year of operations, Percept Media will rank amongst the top five media service businesses in India."

Shripad Kulkarni, CEO, Allied Media said "We will set a norm in the media business, by ushering in an era of ethical media buying and transparency."

The announcement comes on the back of an 'all cash' deal to buy back all of Aegis Group plc shareholdings in PDM India and Posterscope India.

However the Posterscope brand which belongs to Aegis will be transferred back to them, and Percept is expected to adopt a new name for its outdoor media division.

Percept has now formally exited its relationship with Aegis, said the company statement.