This follows Lintas Media Group fully buying out the OOH agency which was hitherto a JV with Aaren Advertising
BestMediaInfo Bureau | Delhi | November 9, 2011
Lintas Media Group has completed its acquisition of OOH agency Aaren Initiative, which handles outdoor for Hindustan Unilever and Nokia, among other blue-chip accounts. The 50 per cent stake held by the joint venture partner, Aaren Advertising, has been recently purchased by Lintas in an amicable settlement. Aaren Initiative was launched in October 2000 as a 50:50 JV between Lintas' Initiative Media and Aaren Advertising.
The name of the agency will be changed to Lintas Initiative.
Aaren Initiative was set up as a 50:50 joint venture between Lintas and Aaren ten years ago when the presence of media agencies in the medium was still unknown.Â Aaren Initiative was a pioneer in the space, professionalising media planning, buying and monitoring in this relatively unorganised medium, and grew rapidly with billings of over Rs 150 crore annually, and offices in 28 cities.
Lynn de Souza, Chairman & CEO of Lintas Media Group and Chairman of Aaren Initiative, will continue to be the chairman of the wholly owned agency. She said, âThrough 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. We are grateful to our erstwhile partners, Aaren, for all their counsel and support during the formative years of the agency.â
Hemanth Shah will continue to function as Managing Director of the OOH operation. Elaborating on his role, he said, âThe team will have the independence to function and nurture non-network clients while network clients will experience seamless deliveries. The acquisition allows the company to plan holistic solutions and integrate them into its offerings right from creative to all-media.â