Aegis Media Acquires Stake in SEM Firm Communicate2 - To Launch Isobar A Digital Agency in India
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Well its time for stake sale again in the digital marketing space. After Quasar sellout and Webchutney stake sale its time for communicate2 the search engine marketing firm lead by Vivek Bharghava (whom we interviewed on WATBlog last year) to sell a piece of equity for strategic reasons.
According to the release the Aegis buyout of stake in Communicate2 would help Aegis add search engine marketing capability to its media planning arm Carat in the country and launch Isobar as a digital marketing solution for the Indian market. So it means another full service digital agency would join the list of ever increasing digital advertising agencies in India. And as far as Aegis is concerned this is just the beginning as they have plans to invest 100 million $ in various verticals in the digital media space.
There was no word on the % of equity but its was said to be substancial as Isobar’s CEO, Nigel Morris, said, “We are in the final stage of negotiations and it involves a significant financial stake.”
On the occassion of the stake sale Vivek Bharghava said “It is a great pleasure for us to become a part of Aegis,”. This stake sale would surely give Communicate2 a great association and reach. Though it recently lost Gulrez Alam one of its Group heads for search who started his own SEM firm Resultrix and with competition like pinstorm getting aggressive with mainline media alliances its seems like Communicate2 is still progressing flawlessly.
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Hmm.. also.. Ashish Bhasin from Lowe joined Aegis as chairman and CEO for India and South-east Asia.. makes it seem that they are bullish on the Indian and South East Asian Market… and are being aggressive in their approach .. I think it is a good sign for the Industry…