Omnicom Group Inc. has entered into an agreement to acquire a majority stake in Mudra Group. Currently, Omnicom Groups hold 10 per cent stake in the Mudra Group.
The relationship between Omnicom Group and Mudra began in 1988 and has grown tremendously since the formation of DDB Mudra in 2007, which established DDB India, Tribal DDB, Rapp and DDB Health & Lifestyle in the Indian market.
"This acquisition is an important step in achieving Omnicom's strategy to extend and deepen our presence in rapidly growing markets," said John Wren, President and CEO of Omnicom Group in an official communiqué.
Omnicom Group EVP and CFO Randall Weisenburger said in an official communique, "In addition to significantly expanding our service capabilities in the region, this partnership will bring with it an exceptional Shared Services and Operations Center in Ahmedabad that will help Omnicom more efficiently expand its other operations in India."
In late October, Omincom reported a 17 percent increase in profit for the third quarter. The communication group provides its services to over 5,000 clients in more than 100 countries.
Mudra Group operates four agencies - Mudra India (Branding and Communication), DDB Mudra (Influence and Behavioural Change), Mudra Max (Integrated Engagement & Experience) and Ignite Mudra (Partnerships for Entrepreneurs) with 26 offices across the country and an extensive field activation network.