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Dentsu in talks to buy out digital agency Webchutney
Dentsu is at an advanced stage in its talks to buy out digital advertising agency and consulting firm Webchutney. Network18, which holds a 70% stake in Sidharth Rao-promoted Webchutney Studios, is looking to exit the alliance. It is estimated that the deal size of Network18's stake will be between INR400 million and INR600 million. Dentsu is expected to buy out Network 18's stake in Webchutney, but the latter’s promoters will continue to hold their stakes.1
TBWA acquires Magnon Group
TBWA has acquired the Magnon Group, which owns the domestic digital agency Magnon Solutions and the digital outsourcing agency Magnon International. Magnon Solutions is expected to join TBWA’s global Digital Arts Network (DAN), whereby Magnon International will become part of E-Graphics and drive DAN’s production offering.2
InMobi acquires UK's Overlay Media
Bangalore-based mobile ad network InMobi has acquired UK-based Overlay Media, a context-aware computing company. Overlay Media’s team of data scientists has built its Context Engine technology to deliver personalized content to mobile users. The team will be based at InMobi’s London EMEA headquarters.3
One97 Communications acquires MobiVite
One97 Communications, a mobile internet services company, has acquired mobile marketing platform MobiVite from Srishti TechNet, a Delhi-based technology start-up. MobiVite's platform uses cloud computing technology to enable small businesses and marketing agencies to create mobile websites and conduct mobile web campaigns. The financial details of the deal were not revealed, but Srishti will receive royalties from One97 for revenue earned through MobiVite.4
1“Dentsu in talks to buy out digital agency Webchutney,” The Economic Times, 21 December 2012, via Factiva.
2“TBWA acquires Magnon Group,” Exchange4media, 9 January 2013, via Factiva.
3“InMobi acquires UK's Overlay Media,” Indiantelevision, 9 January 2013, via Factiva.
4“One97 Communications acquires MobiVite to consolidate footing in mobile marketing space,” The Economic Times, 18 December 2012, via Factiva.