Dentsu Inc. agrees to acquire 89% stake in SVG Media Group, India's largest independent digital performance marketing group.
The text of the Dentsu Inc. news release distributed on April 18 is as follows.
April 18, 2017
Dentsu Inc. Reaches Agreement to Acquire 89% Stake in SVG Media Group, One of India's Largest Independent Digital Performance Marketing Groups
Dentsu Inc. (Headquarters: Minato-ku, Tokyo; President and CEO: Toshihiro Yamamoto; Capital: ¥74,609,810,000) announced that its overseas headquarters, Dentsu Aegis Network, has reached an agreement with the shareholders of SVG Media Group (Headquarters: Gurgaon; Group CEO: Anurag Gupta; hereinafter "SVG Media Group"), one of India's largest independent digital performance marketing groups, to acquire an 89% stake in the company. The agreement also includes an option for the Dentsu Group to gradually increase its shareholding and make SVG Media Group a Group CEO: Anurag Gupta, hereinafter "SVG Media Group"), and that our group holds the option to gradually increase its shareholding to make it a wholly-owned subsidiary.
Founded in 2006, SVG Media Group comprises three flagship brands (DGM, Komli, Seventynine) providing performance marketing, mobile, social, data targeting, and content media services, with a total of 280 employees.
SVG Media Group's services are well-regarded, and many leading companies in India utilize its services.
This acquisition will expand the Group's digital workforce in India to over 1,300 employees. By leveraging synergies with Group companies operating locally, we aim to accelerate our growth strategy in the Indian market and establish a leading position in the country's digital landscape.
Following the share acquisition, we will integrate the companies under the SVG Media Group umbrella into the network of Columbus, one of our group brands operating in the digital domain in Australia, and rename them SVG Columbus.
The impact of this transaction on the Company's consolidated results for the fiscal year ending December 2017 will be minimal.
[Overview of SVG Media Group]
Company Name: SVG Media Pvt Ltd, DGM India Internet Marketing Pvt Ltd,
Networkplay Media Pvt Ltd
Established: Business commenced in 2006; current corporate structure formed in May 2007
Shareholder Structure: After acquisition completion, Dentsu Inc. Aegis Network: 89%
Revenue: INR 680 million (approx. ¥1.15 billion) (Fiscal Year Ended March 2016)
Representative: Anurag Gupta (Group CEO)
Number of Employees: 280
Business Description: Provides digital performance marketing services
End
Dentsu Inc. News Release
http://www.dentsu.co.jp/news/release/2017/0418-009274.html
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