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Aegis snaps up Doosra, eyes Rs 7 bn in FY'12

 MUMBAI: Pursuing targeted acquisitions, Aegis Media has purchased a majority stake in Doosra Brand Communications to add creative capability to its India outfit.


Aegis Media will look at other acquisition opportunities in India. “This was purely for filling a creative need which we didn’t have. We will also look at acquisitions for either scaling up or getting in innovative products,” Aegis Media Chairman India & CEO South East Asia Ashish Bhasin told Indiantelevision.com.


Aegis Group, which sold its Synovate research operations to Ipsos, has globally spent about $106.4 million on 11 acquisitions so far this year.


In India, this is the first acquisition after Bhasin restructured the operations and expanded the agency’s offerings. The focus, though, will continue to be on organic growth. “We have grown over 800 per cent in the last three years, albeit from a low base,” said Bhasin.


Though Bhasin declined to reveal the agency’s turnover in India, market sources said Aegis is looking at reaching Rs 7 billion this fiscal. “We will grow at double the rate at which industry is growing,” Bhasin said.


Aegis converted its existing partnership with Doosra into an equity relationship. Doosra, headed by Zahir Mirza, was offering creative solutions to Aegis’ roster of clients.


"We were strong in activation and needed creative backing to support it,” said Bhasin, while declining to disclose how much stake the agency bought and at what price.


The joint venture, Doosra Brand Communications, aims at providing a unique combination of creative and media, focusing on non-traditional advertising.


Doosra, named after an off-spinner’s delivery in cricket that turns the other way from the batsman’s expectations, was created with the purpose of doing non-traditional advertising work.

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