With capitalised billings of Rs 850 crore, Mudra Communications is on an acquisition mode. As part of its growth strategy, the agency is planning to acquire three advertising agencies across the country. In addition, the agency is also looking for partners and strategic tie-ups for its new ventures, informed industry sources.
When contacted by FE, Madhukar Kamath, managing director, Mudra Communi-cations, confirmed the new development. "We are in talks with three national advertising agencies. The rationale behind this move is to build a strong second brand within the group."
Under its ‘Total Branding’ umbrella, the agency is now working on five new initiatives and the avenues being explored are from start-ups to collaborations and acquisitions. "The areas of interest are pharma, relationship marketing, rural, sales promotion/ events, and design & branding. With these new ventures, we want our billings to touch Rs 1,000 crore," he added. At present, the agency’s billings stand at Rs 850 crore.
Contradicting media speculations, Mr Kamath said that DDB Worldwide, which has a stake in Mudra Communications, is not planning to set up an ‘Independent Agency’ in India. "This has never been their intention," he said.
According to Mr Kamath, DDB is in discussions with Mudra to bring in the DDB University initiatives into the country. With the background of its MICA venture, the agency plans to launch a couple of DDB University programmes in India shortly. Incidentally, the DDB University is built on a floating university concept with several workshops and seminars and learning sessions conducted around the Globe, according to Mr Kamath.