IPG Mediabrands, the media holding group of Interpublic group has acquired the digital marketing agency Interactive Avenues for an undisclosed amount. While the financial details of the acquisition were not disclosed, the company said that following this acquisition, Interactive Avenues will become a part of IPG Mediabrands' Mediabrands Audience Platform (MAP) and Interactive Avenues co-founder Amar Deep Singh has been appointed as MAP India CEO. The company said that this acquisition will strengthen its digital capabilities in India and Interactive Avenues will be a strategic part of of MAP that offers digital services across search, display, mobile, social, video, applications and e-commerce segments. This follows earlier report in August 2012, which had suggested that Interpublic Group was looking to acquire Interactive Avenues and it looks like the deal has been finally closed after six months. Reprise Media JV: Note that Interactive Avenues already had a joint venture with IPG called Reprise Media, in which IPG owned 51% stake and Interactive Avenues owned the remaining 49% stake. So the two entities already had a working relationship in place. IPG Group mentioned that following this acquisition, Interactive Avenues will sit alongside Reprise Media and will continue to operate as an independent brand within the MAP structure. AdMagnet? Interactive Avenues also had a sister concern - an ad network called AdMagnet, which has investors like Sequoia Capital India. While its not clear if AdMagnet is part of this deal, we had previously heard that AdMagnet was not likely to be a part of this deal. At the time of writing this article, Interactive Avenues mentions its…
