Omnicom to acquire majority stake in integrated marketing communications network Mudra Group, to expand presence in India
October 30, 2011
– Omnicom Group Inc. announced today it has entered into an agreement to acquire a majority stake in Mudra Group, India's leading integrated marketing communications group. Mudra will significantly expand Omnicom's service capabilities and presence in Asia's third largest economy. As part of the agreement, Omnicom will extend its partnership with the Reliance ADA Group.
Mudra Group utilizes a deep understanding of consumers, brands and media to deliver creative solutions through four agency networks: branding and communications agency Mudra India; marketing and advertising agency DDB Mudra; integrated engagement and experiential agency Mudra Max; and Ignite Mudra, India's only agency that caters to entrepreneurs. Mudra has 26 offices across the country and an extensive field activation network.
In conjunction with the strategic partnership, Reliance Group Chairman Anil Ambani will join the Omnicom International Advisory Committee. Mr. Ambani has vast experience in the international business community, leading businesses in the areas of telecom, capital, power, infrastructure, entertainment and health. In aggregate, the Reliance Group businesses serve a customer base of more than 100 million people.
"This acquisition is an important step in achieving Omnicom's strategy to extend and deepen our presence in rapidly growing markets," said John Wren, President and CEO of Omnicom Group. "Our vision is to be a source of innovation in every market we serve. Mudra is widely acknowledged as an outstanding company with impressive creative product and expertise in a broad range of disciplines. Mudra's innovation and depth of talent will strengthen our business capabilities not only in India but around the world."
Mudra, a DDB Worldwide partner since 1993, was the only agency in India to win a medal in the Agency of the Year category at the Spikes Asia Advertising Festival in 2011, and Mudra won more Lions at the 2011 Cannes Lions International Festival of Creativity than any other agency group in India.
"DDB has been an excellent partner over the years. We have benefited immensely from the collaboration and transfer of knowledge from around the globe. We are proud to belong to such a storied network," Mudra Group CEO Madhukar Kamath said. "Omnicom and DDB have clearly been the inspiration for Mudra Group's transformative growth over the last five years. My colleagues and I look forward to the next decade of explosive growth in the Indian market."
DDB Worldwide President and CEO Chuck Brymer noted, "This acquisition will further unite two companies that have long held the same values, creative goals and ambitions. Under Madhukar's leadership, Mudra is the original challenger brand of the Indian communications industry, and it shares DDB's culture of creative excellence. Together, we will create even greater growth for our clients in this rapidly changing, technologically driven region."
DDB and Mudra Group's shared history is rooted in a relationship that began in 1988 and has grown tremendously since the formation of DDB Mudra in 2007, which established DDB India, Tribal DDB, Rapp and DDB Health & Lifestyle in the Indian market.
John Zeigler, CEO, DDB Asia Pacific, added, "Mudra has an impressive history as both creative leaders and strong believers in integrated solutions making them one of the most innovative companies in India."
Omnicom Group EVP and CFO Randall Weisenburger also noted, "In addition to significantly expanding our service capabilities in the region, this partnership will bring with it an exceptional Shared Services and Operations Center in Ahmedabad that will help Omnicom more efficiently expand its other operations in India. Additionally, Mudra recently moved into a new headquarters facility in Mumbai called Mudra House, a sustainable building and one of the few in India to be awarded LEED (Leadership in Energy and Environmental Design) Gold certification. Mudra House is widely acclaimed for its conservation features and state of the art technology."
About The Mudra Group
The Mudra Group, India's leading integrated marketing communications group, offers a customized and collaborative approach which helps clients build enduring and profitable brands. We utilize our deep understanding of consumers, brands and media to deliver inventive Brand Solutions through our four agency networks - Mudra India (Branding and Communication), DDB Mudra (Influence and Behavioural Change), Mudra Max (Integrated Engagement & Experience) and Ignite Mudra (Partnerships for Entrepreneurs).
DDB Worldwide Communications Group Inc (www.ddb.com) ranks among the top five consolidated advertising and marketing services global networks, according to Advertising Age. Consistently one of the most awarded networks globally for creative excellence, DDB was Campaign's 2009 Global Network of the Year, the 2010 and 2011 Spikes Asia Network of the Year, 2010 Eurobest Network of the Year, 2010 Campaign Asia Pacific Creative Network of the Year, and captured both the Cyber Grand Prix and Film Craft Grand Prix at the 2010 International Advertising Festival in Cannes. With more than 200 offices in over 90 countries, DDB Worldwide is part of Omnicom Group Inc. (OMC).
About Omnicom Group Inc.
Omnicom Group Inc. (NYSE: OMC) is a leading global marketing and communications company (www.omnicomgroup.com). Omnicom's branded networks and numerous specialty firms provide advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 100 countries.