Interpublic Group has fully integrated Lintas India Pvt Ltd into the Lowe Worldwide Network. The equity buyout extends the 40-year partnership between Lintas and IPG.
Lintas India Pvt Ltd, which was founded in 1969, had IPG holding 40 per cent of the equity. It acquired another 9 per cent in 1998. Lowe India is the flagship agency, but the Group also includes two other independent advertising companies, as well as India’s second largest media business with leading brands such as Initiative, Insight, Interactions, Intellect, and Media Futures.
Stephen Gatfield, EVP for Network Operations at Interpublic Group, and CEO of Lowe Worldwide, stated, “Lintas India, as one of the most successful businesses in the Lowe Worldwide group of agencies, serves the network as a resource center providing talent, experience and service to our global clients. This deal will allow us to expedite development through closer networking with IPG’s specialised organisations abroad. This is all about meeting the challenges of our industry.”
Prem Mehta, Chairman and Managing Director, Lintas India Pvt. Ltd, said, “There have been significant changes to the way we serve the needs of our many global clients who now require globally integrated management teams for their brands. In addition, our Indian clients now need more and more services outside the country. This move will further strengthen Lintas India’s successes. Being an integral part of a global network will take the employees, the work and the services provided to our clients to the next, 21st century level.”
Lowe Worldwide is an interconnected global community of agencies. Its global client roster includes Unilever, Nokia, Johnson & Johnson, Nestle, Saab and Stella Artois.