In a strategic move, the Rs 225-crore Euro RSCG has merged its wholly-owned subsidiary Euro RSCG Interactive with Web-money, to form a new venture called ‘Euro RSCG Sogo Network’.
According to Mr. Ishan Raina, chairman and chief executive officer of Euro RSCG for India and the Middle East, the objective behind the move is to beef up the agency’s interactive capability. Euro RSCG will hold a majority stake in the new entity, which will be headed by Mr. Alan Mans, with Mr. Himanshu Shah as the chief technology officer.
Last year Euro RSCG acquired Web-money as part of its expansion plans. Since then Euro RSCG Interactive and Web-money have done work for clients like Mercedes Benz, Davidoff, RPG group, Kodak India, Air France, Hoechst, Wipro, Parry Nutraceuticals, e-Dakshin, House Layouts and Film TV India.
The new entity will continue to offer all the services that Euro RSCG Interactive did, but will have additional capabilities in terms of new services, expanded manpower, larger client base and greater experience in the business. In addition, the new entity will also execute projects for the interactive arm of Euro RSCG Worldwide. It will also market to clients in India as well as the Middle East.
At present, Euro RSCG in India offers its clients integrated communication services and has a group of companies, which offer advertising, direct marketing, call centres, interactive, online media, events and PR services.