Omnicom owned advertising agency TBWA has acquired Indian digital agency group Magnon. The acquisition includes two companies: Magnon Solutions, which is a digital agency operating in India, and Magnon International, which is a digital outsourcing agency. Magnon Solutions will become a part of TBWA’s global Digital Arts Network, while Magnon International will become a part of E-Graphics, reports Campaign India.
Founded in 2000 by Vineet Bajpai, who will continue as CEO, Magnon currently employs nearly 150 people across Mumbai and New Delhi. As per its website, Magnon Solutions offers Interactive Web Design, SEO and Search Marketing, Social Media Optimisation, eCommerce Solutions, Mobile Sites and Apps, Online Reputation Management, Online Media Planning and Web Hosting solutions. Its clients include companies like HBO, ABN-Amro, Tata Sky, Bharti Group, Axis Bank, Kenstar, Fever 104 FM, Haier, Bata, Manish Arora, among several others. Magnon International provides outsourced web designing, application development, Internet Marketing and Website Maintenance.
Agency Consolidation In India
There’s a bit of a rush to acquire Indian digital agencies, and it appears that bigger global agencies don’t want to be left out:
Dec 7th 2012: Publicis Groupe acquired iStrat and Marketgate.
Aug 29 2012: Dentsu acquires 51% stake in Taproot India
Aug 13th 2012: Aegis Group plc entered into an agreement to acquire Communicate 2.
Jun 13th 2012: The WPP group (via JWT Singapore) acquired 51% in Hungama’s digital agency arm
Mar 30 2012: Ad2c, a JV between Affle and D2 Communications (a Dentsu & NTT Docomo JV) acquires mobile marketing firm Mobimasta
Do watch the #NAMA discussion on the advertising agencies in India: