MAM
Aegis continues targeted acquisitions
MUMBAI: Aegis Group, which has just sold its Synovate research operations to Ipsos, said its organic revenues grew 7.8 per cent excluding Synovate for the first half of this year. Including Synovate, the company claimed organic revenues rose 7.3 per cent.
The earnings show that media services have boosted Aegis‘ growth, and the company continues to be buyer, not a seller of media shops. It has announced a deal to buy Russia out-of-home media specialist Master Ad.
Aegis said it has spent about $106.4 million on 11 acquisitions so far this year, but said it is mainly focused on “organic growth” and long-term margin improvement from its operations.
“We have continued our focus on targeted acquisitions, extending our capabilities and positioning us in key geographies, all of which leave us well placed for future growth,” stated Aegis CEO Jerry Buhlmann, noting that the spin-off of Synovate represents the “largest structural change in the history” of the company.
“Once the sale is completed, Aegis will become a more focused group, with the opportunity to accelerate further the delivery of sustainable, profitable growth, and increased financial flexibility to make targeted acquisitions,” he asserted, adding a cautionary “medium term” outlook due to “macro-economic uncertainties,” which were also reflected in a revised global ad spending forecast released this morning by Aegis‘ Carat unit.
AD Agencies
Prakash Nair reportedly quits Ogilvy after 23 years
One of the agency’s longest-serving leaders has moved on, with his next destination still unknown
MUMBAI: After more than two decades at one address, Prakash Nair has left the building. The president and head of office, north at Ogilvy has moved on from the agency, according to highly placed industry sources. His next move remains unknown. Ogilvy did not respond to requests for comment.
Nair spent over 23 years at the agency, making him one of its longest-serving senior figures. He was elevated to lead the Gurugram office in April 2022, a role that put him at the helm of Ogilvy’s northern operations at a time of considerable churn across the advertising industry.
Before taking charge in the capital, Nair served as associate president at Ogilvy Mumbai, where he worked on some of the agency’s most prized accounts, including Mondelez, Tata Motors, and BP Castrol. Over the years, he built a reputation for driving modern, integrated, and award-winning work, the kind that wins metals at Cannes and keeps clients from straying.
His departure was marked in style. A farewell gathering was held in Delhi, attended by senior figures from across the advertising fraternity, a signal of the regard in which Nair is held in an industry that does not always pause to say goodbye properly.
Where he goes next is the question the industry is now asking. After 23 years at one of the world’s most storied agencies, the answer, when it comes, will be worth watching.
