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Ogilvy & Mather Expands Indian Operation

News, 21 May 2004

Ogilvy India is poised to take over promotional marketing and event management company, Candid Marketing Services.

Under the terms of the deal Ogilvy will acquire an initial controlling 51% stake and pick up the remainder during the next two years.

Analjit Singh, chairman of Max India Group currently holds a 15% stake in the operation and a management team has 10%. Candid chief executive Samarjit Singh controls the remainder

John Goodman head of O&M India and South Asia, denied the move, although he admitted Ogilvy was looking for acquisitions.

"We are interested in investing in non-advertising businesses, and we are in talks with firms which deal with event management, promotional marketing, and brand building and design," he said.

Advertising comprises 60% of Ogilvy's current billings, while the remainder derives from non-advertising business.

Data sourced from: Times of India; additional content by WARC staff