The industry has been rife with rumours about Aegis Media’s acquisition of Milestone Brandcomm. The buyout is estimated to be around Rs 120 crore. However, both Ashish Bhasin, Chairman & CEO - South Asia, Dentsu Aegis Network and Nabendu Bhattacharyya, Founder & Managing Director, Milestone Brandcom Group have denied talks of a takeover.
Milestone Brandcom was launched in October 2009 by Bhattacharya and is headquarted in Mumbai with a pan India presence. The agency ‘s specialised units for retail, planning, conceptualising, tracking and stimulating brands in various innovative outdoor spaces include Milestone Last Mile, Milestone Insight, Milestone Concept ,Milestone Tracker and Milestone Brand Simulator.
Aegis Media acquired Communicate 2 in August 2012 to strengthen its digital capabilities and is said to be looking at other acquisitions across divisions, with the integration of the Dentsu and Aegis with to form the Dentsu Aegis Network. There are certainly acquisitions in the pipeline to further strengthen the group’s presence in India, indicate industry insiders.