XLer on an Acquisition Prowl

Mudra in talks to acquire 3 ad agencies

FINANCIAL EXPRESS (July 22, 2004)
Lalitha Srinivasan
MUMBAI

Madhukar Kamath is from 76BMD Batch, and was the CEO of Bates India till 2003, which he turned around, before returning to Mudra as the MD & CEO.


With capitalised billings of Rs 850 crore, Mudra Communications is on an acquisition mode. As part of its growth strategy, the agency is planning to acquire three advertising agencies across the country. In addition, the agency is also looking for partners and strategic tie-ups for its new ventures, informed industry sources.

When contacted by FE, Madhukar Kamath, Managing Director, Mudra Communications, confirmed the new development. "We are in talks with three national advertising agencies. The rationale behind this move is to build a strong second brand within the group."

Under its ‘Total Branding’ umbrella, the agency is now working on five new initiatives and the avenues being explored are from start-ups to collaborations and acquisitions. "The areas of interest are pharma, relationship marketing, rural, sales promotion/ events, and design & branding. With these new ventures, we want our billings to touch Rs 1,000 crore," he added.... etc.