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GroupM set to acquire FoxyMoron

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GroupM set to acquire FoxyMoron

GroupM is looking to buy Mumbai-based digital agency FoxyMoron, according to people familiar with the negotiations. The deal is expected to close by the end of the month. GroupM refused to comment.

According to sources, the entire FoxyMoron team is expected to move to GroupM post the acquisition. However, it is not clear how they will be integrated within the company, though one source said that FoxyMoron would function as an independent entity within GroupM. Financial details of the deal are unavailable though one media report has pegged the total deal at $30 million.

FoxyMoron has worked with clients like Castrol, Femina, AXN, VIP, Parle, PlayStation, Asian Paints, Eristoff, Starbucks, etc. It was founded in 2008 by Harshil Karia, Paritosh Ajmera, Suveer Bajaj and Pratik Gupta.

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