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MAA to buy back Draft stake; Draft Worldwide India to be renamed Sabre Marketing Services

09-May-2006
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MAA to buy back Draft stake; Draft Worldwide India to be renamed Sabre Marketing Services

The MAA Group has opted to fully buy back the majority equity stake in Draft Worldwide India, the Bangalore-headquartered direct marketing and direct response company, from Interpublic Group-owned Draft Inc.

With the buyback, the MAA Group will hold 100 per cent equity in Draft Worldwide India. The name of the agency will change to reflect the change in ownership. Draft Worldwide India will now be called Sabre Marketing Services Pvt Ltd.

However, there would be no change in the agency’s team, and Sabre would continue to be headed by its Vice-President, Prashanth Cheluvaraj, informed Bunty Peerbhoy, Chairman of the MAA Group.

Peerbhoy added, “With a booming economy and a very competitive market place in India, corporations are compelled to adopt specialised marketing tools. Direct marketing is poised for rapid growth and we are investing for consolidating our growth.”

The MAA Group Chairman was vested with management supervision of the company in India by Draft in 2004.The agency has been present in India for over 10 years. Draft – previously Kobs and Draft – was purchased by the Interpublic Group (IPG) in 1996.

Commenting on the buyback, Draft’s David Florence said, “We wish MAA well in the future and thank our partners for their close collaboration over the last 10 years.”

Sabre’s present client portfolio includes Sun Microsystems, Cadence Design Systems India, PTC India, Government of Andhra Pradesh, Locuz Enterprise Solutions, and Mantri Developers.

The MAA Group comprises Corporate Voice Weber Shandwick (public relations), RAMMS (retail and merchandising), Sirius Communications (print and production), and MAA Bozell (advertising and integrated communications).

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