Others MindShare eyes acquisitions

MindShare eyes acquisitions

Author | Ritu Midha | Thursday, Oct 03,2002 7:03 AM

MindShare eyes acquisitions

MindShare is in the process of talking to a number of media houses for possible acquisitions and alliances. Ashutosh Srivastava, MD, MindShare confirmed this development. He however, refused to disclose the names of the agencies MindShare is in negotiations with at this moment.

MindShare plans to expand its horizons even further. It is, reportedly, in talks with a number of small and medium sized agencies nationally and internationally. Said Ashutosh Srivastava, MD, MindShare India, “There are two types of dialogues which are going on – one is at global level – which is with multinationals, and is beyond our domain – we look at the strength of those agencies in India and inform WPP. Other is, we (MindShare’s Indian operation) look at aquisition, and alliances in India.” Irvin Gotlieb, Chairman and CEO of MindShare also confirmed with exchange4media that WPP, indeed, was in the process of consolidation and acquisition as far as media business is concerned. And as for acquisition of media agencies in India, he said, “The guys here might be looking at something specific, which would eventually get to me, but right now I am not involved.”

Srivastava refused to disclose the names of the agencies MindShare is in talks with. Said he, “We are examining a lot of options. Alliances and acquisitions are one of the ways for us to grow in future. However, it is too premature to name the agencies we are talking to.”

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