MAA Communications Bozell Limited plans to acquire Rhizic Communication Limited, a medium sized advertising agency soon.
According to the industry sources, as a first step, some staff members of Rhizic have been already shifted to the premises of MAA Bozell in Mumbai.
Rhizic Communication was set up in 1987 and currently handles accounts like Air Mauritius and Godrej Copiers among others.
Reeling under the impact of economic recession, many small and meedium sized ad agencies are now struggling for survival. Advertisers are tightening their purse strings in a bid to save money. And this move has a direct impact on small and medium sized agencies in India.
MAA Bozell is a joint venture between the MAA Group and Bozell Worldwide and Bozell is part of True North Communications, the world’s sixth largest marketing communications group. Today Bozell holds 30 per cent of MAA Bozell, besides having some of its senior officers on the board of the India company.