MAM

LMG takes full ownership of OOH firm Aaren Initiative

MUMBAI: Lintas Media Group (LMG) has bought out the remaining 50 per cent stake in Aaren Initiative to take complete ownership of the OOH firm.


The purchase price was undisclosed by both the companies. The ten-year-old agency, set up as an equal joint venture
between LMG and Aaren Advertising, had a roster of clients like Hindustan Unilever and Nokia.


The agency will be renamed as Lintas Initiative Outdoor. LMG chairman & CEO Lynn de Souza will continue to be the chairman of the wholly owned agency.


Speaking to Indiantelevision.com, de Souza said the management hierarchy will remain unchanged.
 
Aaren Initiative had an annual billing of Rs 1.5 billion. It has
offices in 28 cities and a network of over 100 employees.


“Through this acquisition we hope to work with many more global clients and have made plans to invest in the right tools and people to transform Lintas Initiative Outdoor into a future ready OOH and retail player,” said de Souza.


Lintas Initiative Outdoor MD, Hemanth Shah added, “The team shall have the independence to function and nurture non-network clients and the network clients shall experience seamless deliveries. The acquisition allows the company to plan holistic solutions and integrate them into its offerings right from creative to all-media.”

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