Publicis Groupe has signed an agreement to acquire Neev, a leading technology services provider in India specialising in e-commerce, SaaS (Software as a Service) and cloud applications across web, social and mobile. Neev will be aligned with Razorfish, one of the largest interactive marketing and technology companies in the world. The acquisition triggers the launch of the Razorfish brand in India.
The agency will operate as Razorfish Neev, led by Neev CEO Saurabh Chandra. He will report into Kanika Mathur, Managing Director, Razorfish and Digitas India, with a direct connection to Ray Velez, Global CTO for Razorfish.
The move follows a number of acquisitions recently announced by Publicis Groupe and further strengthens its digital leadership globally as well as its presence in India and the greater APAC region. This year, Publicis Groupe acquired leading digital agency Convonix based in Mumbai and back in 2012 made significant acquisitions with iStrat (December 2012), Resultrix (August 2012) and Indigo Consulting (April 2012).
“Razorfish can now offer scaled expertise in India, complementing its already strong presence in Greater China and Australia,” said Vincent Digonnet, President APAC of Razorfish and Digitas Networks. “Neev is providing us with the right engine, including an ability to deliver sophisticated state of the art web, e-commerce, mobile and social solutions. In addition, the acquisition will support the development capabilities of Razorfish technology teams in the US.”
Founded in 2005 and based in Bangalore, Neev has aggressively grown and now employs a team of 250 specialists with expertise in leveraging cloud and mobile technologies and promoting innovation that drives business success. The company has a track record for cutting edge product innovation and market firsts, in areas of video streaming, e-commerce, data visualisation, including patents in cloud and mobility. Year on year, Neev has increased revenues on average 45 per cent since 2007.
Saurabh Chandra, CEO, Neev remarked, “Neev has always delivered its work by leveraging leading edge technologies in cloud and mobility. With Razorfish, we are looking at taking this to a larger portfolio of clients. Our focus remains delivering solutions to our clients that solve real business problems with the best combination of creativity and technology.”
Srikant Sastri, VivaKi Country Chair for India, who is overseeing the acquisition of Neev, said, “With the acquisition of Neev, we have added cutting-edge tech capabilities. We are now twice as large as any other global network in terms of digital team-strength and revenues, and unparalleled in breadth and depth of digital skills.”