The move follows Rakhshin Patel and Sumantra Sengupta increasing their stake in the business as a step towards full ownership
BestMediaInfo Bureau | Mumbai | February 13, 2015
M&C Saatchi Direct & Digital has now become Pi Communications. The move follows a change in ownership of the company's operations based out of Mumbai. Rakhshin Patel and Sumantra Sengupta, erstwhile minority shareholders in the company, have now increased their stake in the company as a step towards full ownership of the business.
Chris Jaques, CEO Asia, M&C Saatchi, said, âWe encourage entrepreneurs and are happy to partner in their success. Given Rakhshin and Sumantra's efforts in building a formidable and reputable company, we offered them a controlling stake in their own company. Over the years, they have built a solid foundation for the agency with long-term client relationships and over 25 awards in just the last three years. The company is now theirs to own, manage and steer to even greater success, leaving us to focus on our advertising business based out of Delhi.â
While the name and the ownership change, the operations of the company will continue as before, with Pi communications carrying forward the communication duties of a roster of clients such as Aditya Birla Financial Services Group, Future Group, IL8cFS, Kotak, Mahindra Holidays and One Assist amongst others.
Commenting on the rebranding, Rakhshin Patel, Managing Director, Pi communications, said, âDespite the change, what remains constant is our commitment, our passion and our ambition. Whether minority or majority shareholding, we always managed the company like it was our very own. Now is the time for us to reap the rewards of our hard work.â
Sumantra Sengupta, CEO, Pi communications, explaining the philosophy behind the name, said, âPi stands for Profitable Interactions. Pi is also a constant. Pi communications is the constant when applied to client objectives, ignites a complete circle of solutions that delivers profitable interactions.â