M&C Saatchi, Scarecrow equal partners now
M&C Saatchi hopes to leverage Scarecrow’s strategic and creative prowess said Richard Morewood, APAC regional CEO, M&C Saatchi.
M&C Saatchi’s acquisition of eight-year-old independent creative agency Scarecrow Communications is a love saga that began on LinkedIn and continued for three years before Scarecrow said ‘Yes’.
Both Scarecrow and M&C Saatchi describe the acquisition as an equal partnership. While the Scarecrow team was unwilling to declare the exact details of the partnership the co-founders Manish Bhatt, Ragu Bhat, and Arunava Sen hinted that it is a 50-50 partnership between Scarecrow and M&C Saatchi.
Explaining why it took Scarecrow three years of persuasion from M&C Saatchi, Sen said that the co-founders were not interested in a buyout where the acquirer demands majority stake in the company. He compared various models of acquisitions and said that he and his team was not in favour of the kind of acquisition models that WPP or Dentsu Aegis Network follow.
The new leadership will not include Vivek Suchanti, one of the early investors in Scarecrow. “He has other interests that clash with ours,” explained Manish.
M&C Saatchi hopes to leverage Scarecrow’s strategic and creative prowess said Richard Morewood, APAC regional CEO, M&C Saatchi. He added that together M&C Saatchi and Scarecrow will focus on developing and growing sports and entertainment capabilities and exploring the possibilities in this space.
M&C Saatchi already has certain expertise in sports and entertainment and sees it as a promising area to explore in the Indian market as well. “Our sports and entertainment brand integrations are still very primitive,” said Raghu.
Morewood hinted that M&C Mobile may soon have an office in Mumbai in addition to the Bengaluru and New Delhi operations.
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