IPG Mediabrands, the media holding company within Interpublic Group has announced the acquisition of full service digital agency Interactive Avenues in India.
Interactive Avenues will become an important strategic part of IPG Mediabrands’ Mediabrands Audience Platform (MAP), the constellation of data driven digital services and technologies that focus on search, display, mobile, social, video, applications and e-commerce. MAP improves insights and results for clients by helping agencies find, buy and engage their most valuable audiences in real time.
Commenting on the development, Matt Seiler, Global CEO, IPG Mediabrands said, “India is a key market for IPG Mediabrands and for IPG as a whole. This acquisition affirms our commitment to making investments in high growth disciplines and geographies. We believe India is one of the fastest growing and most important global markets. Interactive Avenues has a fantastic track record in India and great future as part of IPG Mediabrands.”
Interactive Avenues will enhance the integrated digital services offered by MAP in India developing its full services offering with creative, production and digital content capabilities. Interactive Avenues will help develop a deeper and more integrated relationship with IPG Mediabrands clients in India and abroad. The company’s Co-founder, Amar Deep Singh, will become MAP India CEO.
Singh remarked, “After a dream run of seven years, we are ready for our next phase of growth. In IPG Mediabrands we have the right partner. They give us access to three fundamental growth catalysts – access to global tools technologies and best practice; access to markets beyond India; and access to global clients in India and beyond. There are exciting times ahead with our plans to develop and launch MAP’s specialist offerings – Cadreon, Spring Creek Group and Ansible – in India.”
Brendan Moorcroft, Global CEO of MAP added here, “We have a clear vision for MAP in India. Interactive Avenues fits perfectly into this. Because we already have an established partnership with Interactive Avenues, we know their strengths and understand and share their core values. IPG Mediabrands recognises where digital is heading and the integration of Interactive Avenues will enable MAP to gain further foothold in the Indian market following its introduction earlier this year.”
The move further strengthens the networks’ digital capabilities in India and makes for an even stronger digital foundation for IPG Mediabrands and its clients in the Indian market. Interactive Avenues was founded in 2006 and has one of the top three clients in almost every category, including Consumer Electronics, FMCG, Technology, Telecom, Banking, Insurance, Travel, eBusiness and Education.
Interactive Avenues will sit alongside established IPG Mediabrands agency Reprise Media in the new MAP structure. The acquisition and integration into MAP India will have no impact on the day to day running of the agency, which will remain as it is now. Interactive Avenues will continue to operate as an independent brand within the MAP structure.
This marks a successful exit for Interactive Avenues’ current investors, WestBridge Ventures II Investment Holdings, formerly Sequoia Capital Investment Holdings II, and Anupam Mittal.