Percept recently acquired a majority stake in Imageads- the advertising agency owned by the Ramachandrans. C D Ramachandran, who runs Imageads, confirmed the development.
"Percept has acquired stake in Imageads and we have developed a common agenda for growth", he said. He however refrained from commenting the size of Percept's stake in Imageads.
Ramachandran expects the partnership to be mutually beneficial, since Percept has strong presence in the North and Imageads has a strong presence in the South. Before the acquisition, Imageads was handling a number of PSU accounts, amongst which were Bank of India, Central Bank of India, Exim Bank, ONGC, RBI, IDBI, Oriental Insurance. It is believed that after the acquisition, Percept, which is currently handling accounts like Hero-Honda, Bharati Enterprises, Sahara India, Polaroid, and Siemens Telecom, would have an ad business size of close to Rs.300 crores.
Clearly, the partnership would strengthen Percept's hold in PSUs accounts. On the other hand, it would clearly leverage Imageads operations through Percept's multi location and diverse operations within communication business.
Comments Ramachandran, "The partnership will help Imageads strengthen its operations through a wide range of services, which it would draw from Percept. Event Management, Radio and Film Production, Internet Advertising and Celebrity Management are some of the areas where we can draw our expertise." Ramachandran would continue to head Imageads as its Managing Director.
Percept is said to be restructuring its ad business under one umbrella. While all the companies would function independently with dedicated resources, they would draw from a common pool of expertise, network, learning and know-how.