Lintas Media Group takes complete control over Aaren Initiative Outdoor

By afaqs! news bureau , afaqs!, Mumbai | In Media Planning & Buying | November 09, 2011
After acquisition of the remaining 50 per cent stake owned by Aaren Advertising in an amicable settlement, the name of the agency will be changed to Lintas Initiative.

Lintas Media Group has completed the acquisition of OOH (out of home) agency Aaren Initiative. The 50 per cent stake held by the joint venture partner, Aaren Advertising, was recently purchased by Lintas in an amicable settlement. The name of the agency will be changed to Lintas Initiative.

Lynn de Souza, chairperson and chief executive officer, Lintas Media Group and chairperson, Aaren Initiative will continue as chairperson of the wholly-owned agency. Speaking about the acquisition, de Souza says, "Through this acquisition, we hope to work with many more global clients and have made plans to invest in the right tools and people to transform Lintas Initiative Outdoor into a future-ready OOH and retail player."

Aaren Initiative Outdoor was set up as a 50:50 joint venture between Lintas and Aaren Advertising 10 years ago when the presence of media agencies in the medium was still unknown. It had presence in more than 28 cities and a network of more than 100 employees.

De Souza is grateful to their erstwhile partner and thanks it for its counsel and support during the formative years of the agency.

Hemanth Shah, managing director, Aaren Initiative, will continue to function as managing director of the new entity. He was recently promoted to the role at Aaren Initiative.

Elaborating on his role, Shah says, "The team will have the independence to function and nurture non-network clients, and the network clients will experience seamless deliveries. The acquisition allows the company to plan holistic solutions and integrate them into its offerings right from creative to all-media."

In May, Lintas Media Group had launched a new media solutions division called Limelight. It provides solutions in the space of broadcast, digital, print and OOH.

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