Publicis Groupe has announced the acquisition of Convonix, a Mumbai-based digital marketing consulting firm. Convonix will align with Starcom MediaVest Group (SMG) in India. This transaction combines Convonix’s strength in search, social and analytics with Starcom’s strength in media strategy and expands Convonix’s geographical presence in India to Delhi, Bangalore and Chennai, besides Mumbai. This news follows a number of recent acquisitions announced by Publicis Groupe in India.
Convonix will sit within SMG and will operate as SMG Convonix, with two market-facing brands – SMG Digital and Convonix. The three founding members of Convonix – Vishal Sampat, CEO; Sarfaraz Khimani, co-COO; and Pallav Jain, co-COO, will continue to lead the agency.
“As the first SEO organisation in India, Convonix has continued to innovate and build the very best digital capability whilst being highly respected for its ability to recruit the best talent from universities each year, and transform them into digital advertising experts through a rigorous training program,” said Laura Desmond, Global Chief Executive Officer for Starcom MediaVest Group. She added, “Combined with our existing talent in the market, this deal strengthens our offering to ensure we are the market leaders in digital.”
Founded in 2003, Convonix has evolved from being the first Search Engine Optimisation (SEO) organisation in India to becoming an integrated digital marketing solutions provider.
Year on year, Convonix has increased revenues on average 66 per cent since 2008. According to the latest ZenithOptimedia ad spend forecast, search marketing continues to expand rapidly in India and is forecast to increase 35 per cent in the region during 2013, and more than 70 per cent in the next two years.
Srikant Sastri, VivaKi Country Chair for India, who is presiding over the acquisition and transition of Convonix, shared, “After the Convonix acquisition, we are now clearly the digital marketing leaders in India, ahead of any other global network. We are positive that this acquisition will set the tone for our next phase of digital pre-eminence both in terms of expertise and revenue and we are continuing to explore other agencies that can help us capitalize on the outstanding potential of the digital marketplace in India.”