Mumbai-based search marketing and contextual ad firm Communicate2 is being bought by Aegis Media, the $20 billion multinational marketing holding company. The terms were not disclosed, but the company said it is a significant strategic stake. Communicate2 has financial clients such as Reliance Money, Apna Loan, ICICI Bank and Standard Chartered…it was founded in 1997.
Now it will be a part of Carat, the media planning arms of Aegis. Also, Aegis’ global digital marketing solution, Isobar, will also start expanding capabilities for the Indian market with this deal. Isobar plans to make more acquisitions in India over the next 12-18 months in disciplines such as social and viral marketing, mobile and CRM, said Nigel Morris, CEO, Isobar. Meanwhile, Ashish Bhasin, EVP of Lowe Worldwide has left the company and will to join Aegis Media as chairman India and CEO, South East Asia.
ET: Aegis Media’s Regional CEO (Asia Pacific) Patrick Stahle said that he expects “to invest around USD 100 million in the next 3-5 years in India in various verticals of digital media”.