• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

To bring in specialised units for closer networking

— Paul Noronha

Complete buy: (From left) Mr Stephen Gatfield, EVP, Network Operations, IPG Group; Mr Tony Wright, Chairman, Lowe & Partners Worldwide; and Mr Prem Mehta, CMD, Lintas India, at a press conference in Mumbai on Tuesday.

Our Bureau

Mumbai, July 3 The IPG Group has formally announced its acquisition of the balance 51 per cent stake in Lintas India.

At a press conference here on Tuesday, Mr Stephen Gatfield, Executive Vice- President, Network Operations of the IPG Group, said: “We are not in a position to disclose the amount we paid for the deal. But this deal will allow us to expedite development of Lintas India’s integrated businesses through closer networking with IPG’s specialised units.”

For instance, the IPG Group is planning to bring its units such as Rivet (CRM and retail engagement company) into India. Besides, it has also decided to bring its specialist business units such as Momentum as a partner to Lintas India’s unit Linterland.

Also, the complete acquisition of Lintas India would give an opportunity for its employees to serve its global clients across markets. As Mr Prem Mehta, Chairman & Managing Director, Lintas India, said: “Our Indian clients now need more services outside the country. This will give employees an opportunity to serve in other markets.”

IPG had picked up 40 per cent stake in Lintas India in 1969, which it subsequently raised to 49 per cent in 1989.

The deal was signed between the IPG Group of companies and the Indian shareholders who are part of the Lintas Employees Welfare Trust. The stakeholders belonging to the trust include eminent names such as Mr Arun Gandhi, Executive Director, Tata Sons; Mr Humayun Dhanrajgir, Ex-Executive Chairman of Kodak & Glaxo; Mr Aspi Cooper, Senior Partner, Deloitte & Touche; Mr Chetan Maniar, Senior Partner Crawford Bailey and Mr B.S. Vaidya, Ex-MD State Bank of India.

Added Mr Mehta: “There are synergies with the IPG companies across the world in the area of integrated communications and we would be integrating our systems with them. Lintas India is a successful model agency for IPG.”

In India, Lintas India Pvt Ltd has evolved from a single advertising agency into a series of companies and businesses offering total integrated communication solutions to its clients.

More Stories on : Advertising | Mergers & Acquisitions

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Parryware Roca expanding product range

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line