A new week and a new acquisition story in the Indian digital space sets the week ahead. According to ET, Bangalore based digital agency 22Feet, founded in 2009 has been bought by DDB Group Asia Pacific and Omnicom Group Inc. The deal that was in works from December 27, 2013 will merge 22Feet with DDB Mudra’s existing digital unit Tribal Worldwide India.
The new entity is named as 22feet Tribal Worldwide, with Vineet Gupta taking the charge as MD, Brijesh Jacob as joint MD and Deepak Nair as the COO. All three, originally from 22feet founding team, will report directly to Madhukar Kamath, Group CEO & Managing Director, DDB Mudra Group. They will also work closely with Patrick Rona, President, Chief Digital Officer, DDB APAC & President, Tribal Worldwide APAC Tribal Worldwide, and the rest of the Tribal World Wide network across 42 countries.
However, the fourth founding partner of 22feet, Vinod Moolacherry, takes independent charge of White Canvas, the Bengaluru-based full-service agency set up by the four of them.
Talking on the big development Madhukar Kamath, group CEO and MD of DDB Mudra Group added that 22feet will be allowed to sustain its prevailing culture. “They will continue to operate out of their existing office, for instance, with new resources and team members.”
For the agency this is a big moment to be part of the DDB Group family as they share DDB’s passion for innovation and technology shared Vineet. As stated above, the agency was founded in 2009 by Vineet Gupta, Brijesh Jacob, Deepak Nair and Vinod Moolacherry. Headquartered in Bangalore, the agency has operations in Mumbai and Delhi with 115 employees across 3 offices. Over the years 22Feet has had the privilege to serve some of the big names in the industry – Café Coffee Day, Lenovo, Heineken, Parachute, Livon, Kingfisher, Red Bull, Fastrack, among others.
Going further, 22feet Tribal Worldwide plans to ramp up its Mumbai base with more technical talent.
This is the second big acquisition of the year in the Indian digital space after Publicis Groupe, had acquired Law & Kenneth, the New Delhi-based independent agency led by adman Praveen Kenneth. The deal that happened at the end of January this year kept the deal size under covers like the latest one.
This is big news for the Indian digital space to boost confidence in the market and it appears that this trend will continue in 2014.
Image credit: Facebook