MAM
WPP and Providence acquire Chime for ?374 million
MUMBAI: Martin Sorrell’s WPP and buyout firm Providence Equity Partners have agreed to acquire British communication and sports marketing group Chime Communications for ?374 million.
As per the deal terms, Chime shareholders will receive 365pence in cash for each share they own. In addition, shareholders who are on the Chime shareholder register on 11 September, 2015 will be entitled to receive an interim dividend for the current year of 2.53 pence per share.
WPP and Providence are acquiring Chime thorough Bidco, which is a newly-incorporated vehicle controlled by funds managed by Providence. WPPwill acquire an indirect minority interest in Bidco in exchange for transferring its existing 20.03 per cent stake in Chime to Bidco’s parent company – Bell Topco. The remaining ordinary shares in Topco will be held indirectly by funds managed by Providence.
As WPP is a joint offeror, it will not be entitled to vote its Chime shares at the Court Meeting. However, WPP will be entitled to vote at the general meeting and Bidco has received an undertaking from WPP in the Bid Conduct Agreement to vote in favour of the resolution to be proposed at the general meeting in respect of, in aggregate, 20,158,421 Chime shares, representing approximately 20.03 per cent of the share capital of Chime in issue on 30 July, 2015.
Commenting on the offer, Chime chairman Lord Davies of Abersoch said, “Chime has achieved great success to date in building a leading position in the global sports marketing and communications industry, which is reflected in the attractive premium being offered to shareholders. However, to fulfill Chime’s considerable growth potential, significant new capital is required. Providence and WPP offer Chime both the capital and the industry expertise to fast-track our ambitions to build a full scale, global sports marketing and communications business. Taking this into account, Chime’s independent Directors unanimously recommend that shareholders vote in favour of the resolutions at the General Meeting and in favour of the Scheme at the Court meeting.”
Bidco director Andrew Tisdale added, “Chime’s history is one of innovation, creativity and consistent delivery of superior results for its clients. We believe Chime’s true assets are its people, and are excited to have the opportunity to partner with them as we embark on the next phase of the company’s growth.”
Chime, which was founded in 1989 by Margaret Thatcher’s media adviser Lord Bell, will be delisted from the London Stock Exchange on completion of the deal.
MAM
VML India lands two finalist spots at Cairns Hatchlings 2026
The Mumbai agency is back in Australia with two teams, a UN brief and 24 hours to impress
MUMBAI: VML India is heading to Australia again. The Mumbai-based creative agency has secured two finalist spots at the Cairns Hatchlings 2026 competition, one in the Audio category and one in Design, making it the only Indian agency to have reached the finals in both editions of the contest since its launch in 2025.
Four people will make the trip. Senior copywriter Shilpi Dey and senior art director Raj Thakkar will compete in Audio. Art directors Shabbir and Shruti Negi will go head-to-head with the world’s best in Design. The finals take place at the Cairns Convention Centre from 13th May, culminating in an awards ceremony on 15th May.
The work that got them there is worth examining. For the Audio category, Dey and Thakkar tackled a brief for LIVE LIKE MMAD with a campaign called Inner Voice, Interrupted. Using spatial audio techniques, the campaign recreates the overwhelming self-doubt that descends after a long workday, physically panning negative thoughts left and right before cutting the noise entirely to reveal a confident inner voice. Strategically targeted at commuters via Spotify during evening rush hours, the campaign reframes the hours after work as an opportunity for personal growth and charitable action.
For the Design category, Shabbir and Negi worked on a brief for Canteen’s Bandanna Day, a campaign highlighting how cancer pushes teenagers out of their own defining moments. Using a pixelated design language to create stark contrast between a blurred world of isolation and a focused world of connection, the campaign, titled The Flipside of Cancer, shows teenagers fading into the background of birthdays, skateparks and school proms. As a Canteen bandanna appears, the blur flips and the teenager snaps back into sharp focus.
Kalpesh Patankar, group chief creative officer of VML India, made no attempt to disguise his satisfaction. “We are immensely proud to see our teams consistently excel on the Cairns Hatchlings platform since its inception,” he said. “They have masterfully tackled challenging briefs across diverse categories, demonstrating both layered storytelling and a unique creative approach. This exceptional teamwork is truly inspiring.”
Dey and Thakkar, returning to the finals after last year’s run, were candid about the demands of the audio medium. “It’s one of the most demanding mediums, where we only have a few seconds to capture a listener’s world with sound alone, so absolute clarity is essential,” they said. “The true measure of creative work is its ability to create positive change, and our audio submission was made to help those who need it most while encouraging people to silence the inner voices that hold them back.”
Shabbir and Negi, competing in Design for the first time, described the experience as “a completely different beast.” “We see it as an opportunity to showcase our expertise, raise the bar, and challenge ourselves in new ways, while also learning from creative minds from across the globe,” they said.
In Australia, the four finalists will face a live 24-hour brief from the United Nations before presenting in a live pitch session. Twenty-four hours, one brief, one shot. VML India has been here before. It knows exactly what is at stake.
