major Concept Communications has bought majority stake in the public relations business of Zzebra, a Mumbai based communications company, for an undisclosed amount.
While refusing to divulge the valuation figures of Zzebra PR, Vivek Suchanti, managing director, Concept Group, told afaqs!, "I can only say that it has been evaluated in the million dollar plus bracket."
Currently, the stake is 51 per cent, but, according to Suchanti, "the arrangement is to go up to 76 per cent in three years".
Meanwhile, Concept Communication has its own PR firm, ConceptPR, which is a 100 per cent subsidiary. Suchanti says the takeover will not affect the Zzebra brand in the PR domain, as both ConceptPR and Zzebra PR will work under different verticals. "While ConceptPR is more into corporate, financial and investor relations, Zzebra PR will handle lifestyle, entertainment and sports."
Zzebra PR, which has offices in Mumbai, Bengaluru and New Delhi, will now have a wider footprint. Overall, it will cover 12 cities in India and have offices in the UK, West Asia and Singapore as well.
CP Thomas, co-founder, Zzebra, is thrilled to be part of Concept Communications. "The partnership will enhance our bouquet of services, geographical spread and network of contacts in the corporate and media world. This will enable us to provide much better value and service to our existing and potential clients. We are sure that this dynamic combination will enable Zzebra to reach greater heights," he was quoted as saying in an official communiqué.
Zzebra was founded in 2003 by Thomas and Pooja Chaudhri, a communication professional.