Global public & #BANNER1 & # relations firm Burson-Marsteller has acquired Genesis Public Relations India.
In an official communiqué, Harold Burson, founding chairman, Burson-Marsteller, said, "This is one of the most significant milestones in the 53-year history of the company."
Burson, who visited India recently, added: "I was privileged to experience first-hand a company of extraordinary quality, with impressive intellectual and geographic reach. I have received many compliments from Burson-Marsteller clients who work with Genesis."
Early this week, the company filed an application with India's Foreign Investment Promotion Board (FIPB) for approval of the transaction.
After completion of the acquisition, the company will be renamed Genesis/Burson-Marsteller and integrated within the Burson-Marsteller Asia-Pacific regional network.
The new PR firm will be led by Prema Sagar, principal and founder, Genesis Public Relations, and Ashwani Singla, chief executive officer, Genesis Public Relations. Both will also join Burson-Marsteller's Asia-Pacific Leadership Board.
Genesis is one of the country's respected public relations firms, with close to 200 employees, an extensive national network of wholly owned offices in all six metros and representation in 80 other cities of India.
Burson-Marsteller's Asia-Pacific president and chief executive officer, Bill Rylance, said the acquisition further strengthens the company's strong regional capabilities.
By number of employees, India and China now represent Burson-Marsteller's second and third largest markets worldwide. "However, it is the quality of that talent, more than the quantity, which really excites us," Rylance said.
"Burson-Marsteller is the global PR firm by which others are measured. To be a part of the best global public relations company reflects the strong strategic fit and shared values between Burson-Marsteller and Genesis Public Relations," said Sagar.
Sagar has recently been inducted into the International Communications Consultancy Organization's (ICCO) Hall of Fame, one of only 10 professionals worldwide to receive the prestigious accolade.
Talking about the acquisition, Singla said, "We can now leverage the global expertise, experience and reach of Burson-Marsteller to further enhance our 'One Team, One Experience' promise of seamless networks, deep insights, innovation and quality, not only for all of our clients in India, but also for those organisations looking beyond our shores."
© 2005 agencyfaqs!