Mumbai based wholly digital ad agency Interactive Avenues has been taken over by Interpublic Group’s media holding company IPG Mediabrands. The newly acquired company will now form a part of ‘Mediabrands Audience Platform’ (MAP) of the new owner.
MAP is essentially a data driven digital services and technologies arm that focuses on search, display, mobile, social, video, applications and e-commerce. Interestingly, IPG Mediabrands’ services are only a subset of what Interactive Avenues can deliver.
Why the acquisition?
The primary agenda for acquisition appears to be personnel augmentation of the parent company. Interactive Avenues co-founder Amar Deep Singh will become MAP India CEO. Interestingly, the company will be treated as an independent brand & only work within the ambit of MAP structure. Though the monetary value of exchange has been kept under wraps, Interactive Avenues is a 200+ employee company with offices in all major metros like Mumbai, Delhi, Bangalore & Kolkata.
According to Brendan Moorcroft, Global CEO of MAP, the company is ripe for expansion & the quickest route is inorganic, “We have a clear vision for MAP in India. Interactive Avenues fits perfectly into this,” & the reason to acquire Interactive Avenues is ‘familiarity’ continued the CEO, “Because we already have an established partnership with Interactive Avenues, we know their strengths and understand and share their core values”
A seven year old company, Interactive Avenues has chosen solely the digital medium to further their advertising expertise. With over 200 clients, the company claims to offer a comprehensive package in the digital realm. This means the company’s product brochure, though highly selective, is poised to cover the most promising medium of advertising. IPG Mediabrands has quite recently come into spotlight with its Analytics Division. Let’s see how well it makes use of the freshly inculcated talent.