Logicserve Digital has rebranded to ‘LS Digital’ after raising Rs 80 crore from Florintree Advisors and acquiring a majority stake in digital-first creative agency Langoor.
The company said that the funds will be utilised to build existing capabilities while also considering the inorganic route for growth. The company has retained the shape and fluidity of the logo while changing the name from Logicserve Digital to LS Digital.
The acquisition of Langoor will help LS Digital to strengthen its service offerings for CX, digital design, and Web 3.0. Before this, Langoor was part of Havas Group for three years and exited the group earlier this year in May.
In a press statement, the agency said that this transformation into a dynamic entity with a renewed vision, “to help brands enable and accelerate their digital marketing transformation to stay relevant to their ever-changing, digitally-enabled consumers”, will be building upon its existing media capabilities and help better serve the Indian market while setting the stage to becoming a leader in the global digital marketing landscape.
Currently LS Digital is serving its clients in India and MEA markets.
“We firmly believe that the best-of-breed, founder-driven companies with huge expertise, potential, and desire to change the Digital Marketing Transformation landscape need to come under one platform. We will call this platform “LS Digital”. It retains the legacy of our brand with 2 letters (L and S) and at the same time provides digital as a core proposition to our customers through merged entities across six areas: Media, Creative and Communication, CX, Data & Insights, Tools – Adtech & Martech and Tech Innovations”, explained Prasad Shejale, Founder & CEO, LS Digital.
“LS Digital and Florintree shared the desire to build a leading global company out of India. This is a very exciting space, so our focus is on investing in existing capabilities and acquiring niche companies. It is a multi-stage deal with the commitment to infuse more funds as we move forward,” said Mathew Cyriac, Chairman, Florintree Advisors.
Shejale added, “LS Digital and Langoor share a very similar corporate vision to become an Indian global company. Coming together will enable us to achieve success on a much larger scale. Our core focus is on Digital Business growth for brands, through Media, Creative, Data & Insights, and Technology while Langoor will focus majorly on the customer experience enabling growth for our clients. Together, we will create transformative experiences for customers.”
“Digital marketing is in a constant state of change and innovation. Langoor’s DNA is about working out of the box to deliver positive business outcomes. We are delighted to join LS Digital and look forward to scaling new heights,” said Venugopal Ganganna, CEO, Langoor and Girisha Gowda, Co-founder and COO, Langoor.