Lintas Media Group has completed the acquisition of out of home (OOH) agency Aaren Initiative by purchasing the 50 per cent stake held by erstwhile joint venture partner Aaren Advertising.
Confirming the development, Lynn de Souza, Chairman and CEO, Lintas Media Group, who also is the Chairman of Aaren Initiative, said, “We now fully own this highly successful 10-year old OOH company that works for clients like Hindustan Unilever and Nokia, and is the largest OOH agency in India. Through this acquisition we hope to work with many more global clients and have made plans to invest in the right tools and people to transform into a future ready OOH and retail player.”
Hemanth Shah, President, OOH Media Initiatives, Lintas Media Group is the MD of Aaren Initiative. As is known, the management of Aaren Initiative has always been with Lintas. However, what the acquisition allows is for the company to plan holistic solutions and integrate them into its offerings right from creative to all-media.
Elaborating on this, Shah said, “The team shall have the independence to function and nurture non-network clients and the network clients shall experience seamless deliveries. From now on, it would be a lot more systematic, measured and merit or performance based. All of these should resonate extremely well for clients. The Lintas values shall bring about a sense of relief to an otherwise tentative client’s expectation from OOH as a medium.”
The current clients of Aaren Initiative shall now be able to take advantage of the full suite of tools, research and techniques from the LMG stable. The approach shall be more integrated with the way a communications partner would weave a solution for the brand. Shah stated, “The processes at Lintas are legendary with many key people in other agencies having borrowed bits (from their stints at Lintas) of how the system works here. These shall be fully implemented now.”
Speaking on what further can be expected from Aaren Initiative now, Shah explained, “The increase in the number of ambassadors for OOH within the network shall increase with more clients listening to the merits of a well-managed OOH campaign with us. We aim to grow the business with renewed vigour and re-establish ourselves as the partner of choice. The action in retail and asset consultancy shall be heightened with investments and we hope to make a big difference to the way business is managed in this space.”
Shah pointed out that Team Aaren Initiative was energised with this change and “hoped to carry forward the momentum built over the past year or so”. He added, “From a team standpoint we shall obviously grow with the business needs. What we are hungry and passionate about is to do work that makes a meaningful positive difference to the brands we manage.”
The name Aaren Initiative is also set to be changed, and the company will announce the new name, shortly. Aaren’s buyout is one of the few instances of a complete buyout in the OOH domain and further strengthens Lintas Media Group’s offering in this space.