Dentsu Aegis Network (DAN) has signed a definitive agreement to acquire Happy Creative Services. Happy will join the global mcgarrybowen network of agencies and will be rebranded as Happy mcgarrybowen.
The move will help mcgarrybowen, a Dentsu agency, enter the India market.
In the Asia market, mcgarrybowen already has offices in Singapore, Hong Kong and China.
Joining the Dentsu Aegis leadership team in India is Happy's co-founder and CEO Kartik Iyer, and co-founder and MD Praveen Das; both will report to Ashish Bhasin, chairman and CEO of Dentsu Aegis Network South Asia.
'The deal is expected to close in the next few weeks' says a press release sent by DAN.
Bhasin says in a press note, "Happy has carved out a very strong digital and creative reputation in the Indian market. Founders Kartik Iyer and Praveen Das - who are among Fortune India's 40 Under 40, are prominent and well-respected figures in the industry, and this acquisition will add creative bench strength to the wider team. This will enable us to launch mcgarrybowen in India and we will be another step closer to our mission of being the second largest agency group by the end of 2017 in India, overturning, for the first time, the existing ranking which has historically been in place for over 80 years in the market."
Gordon Bowen, mcgarrybowen, founder and global chairman, says, "India is an important creative market that boasts world-class talent and an enviable group of multi-national clients, both of which represent untapped potential for mcgarrybowen. We knew that successfully expanding in this very competitive market required finding great partners that share our passions and values. With a respected reputation and well awarded creative offering, Happy is just that kind of partner and I am proud to welcome them into the mcgarrybowen family."
"Like us, Kartik and Praveen believe in the power of big organising ideas, collaboration and strong client partnerships. Together I am confident we will fuel even greater creative and business success for clients here in India and around the world," he adds.
A joint press statement by Kartik Iyer, co-founder and CEO, Happy, and Praveen Das, co-founder and MD, Happy, reads, "It has taken us a good nine years to come this far in terms of talent, business and reputation. There comes a time in every business to take a big leap to propel it to the next level and being a part of Dentsu Aegis and mcgarrybowen supports this growth ambition and provides us with the right platform. We are presently working with a number of marquee clients that require the support of a global network and we have always been clear that Happy should to equip itself to compete with the biggest players on the largest stage. In mcgarrybowen we found a true match in philosophy and belief and being a part of their vision makes us truly proud."
Happy was established in 2007. Presently, the agency employs around 100 people across three disciplines - Brand Design, Integrated Brand Communication and Digital.