Dentsu Aegis Network announced today that has reached an agreement with the major shareholders of Happy Creative Services to acquire this creative marketing agency headquartered in Bangalore (India).
The deal is expected to close in the next few weeks.
Carat announced in its worldwide advertising expenditure forecast published in September this year that advertising expenditures in India are expected to keep on showing strong double-digit growth, with 12.0% forecast for 2016 and 13.9% for 2017.
Following the acquisition, Happy Creative will become part of creative agency mcgarrybowen , one of the Dentsu Group’s ten global network brands, and will be rebranded “Happy mcgarrybowen.” Headquartered in New York, mcgarrybowen currently has offices in Chicago, San Francisco, San Antonio, Mexico City, São Paulo, London, Paris, Amsterdam, Shanghai, Hong Kong and Singapore. The launch of the brand in India brings the number of mcgarrybowen agencies in Asia to four.
Happy mcgarrybowen will work in close collaboration with other Group companies to create synergies and accelerate the Group’s growth strategy in India.
Established in 2007 by Kartik Iyer (CEO) and Praveen Das (Chief Creative Officer), two creatives who had formerly worked at major advertising agencies, Happy Creative provides a wide range of services such as brand creation, which includes the naming and positioning of a new brand at the time of its launch; online and offline communication strategies for existing brands; and the planning and implementation of marketing campaigns. The agency has proven creative strengths, and has won a large number of international and local awards, including a Bronze Effie earlier this year.
Happy Creative currently employs 100 people and posted INR 156 million in the last fiscal year ended in March 2016.
Image over the headline.- Happy Creative founders, shareholders and executives celebrate the close launch of Happy mcgarrybowen. © Happy Creative Services.
