• by Steve McClellan  @mp_mcclellan, March 6, 2013

IPG Mediabrands has acquired Interactive Avenues, which it said was India’s largest independent full-service digital agency. The companies have had an ongoing partnership in the market, although terms of the acquisition were not disclosed.
 
With close to 200 employees across offices in Mumbai, Delhi and Bangalore focusing on digital marketing and technology, the deal strengthens an already strong hand for Mediabrands in the market.

The firm, which oversees most of IPG media assets, claims it is the second-largest media holding company in the market with the leading digital buying operation there. It was not clear whether that claim was based on RECMA data; a rep did not immediately respond to a query seeking clarification.
 
Earlier this week in a holding company analysis, Pivotal research analyst Brian Wieser reaffirmed its buy rating on IPG, the only buy rating he has on a major holding company. He cited -- among other things -- the company’s strong position in a number of growth markets, including India.
 
IPG Mediabrands has positioned itself in India through both acquisitions and internal expansion. Two years ago, its digital shop Reprise Media set up shop in the market. Plans call for the launch of buying platform Cadreon there as well.
 
“India is a key market for IPG Mediabrands and for IPG as a whole,” stated Matt Seiler, Global CEO of IPG Mediabrands. “This acquisition affirms our commitment to making investments in high-growth disciplines and geographies.”

Mediabrands is No. 1 in India and No. 2 in digital buying, per RECMA.
 
In a forecast it issued in 2012, ZenithOptimedia reported India to be one of the fastest-growing ad markets, predicting it would add more than $1.5 billion in expenditures between 2011 and 2014.
 
Interactive Avenues will become a part of the Mediabrands Audience Platform (MAP), a group of data-driven digital services and technologies that focus on search, display, mobile, social, video, applications and e-commerce. “We have a clear vision for MAP in India,” stated Brendan Moorcroft, Global CEO of MAP. The acquisition and integration of Interactive Avenues into the offering “will enable MAP to gain further foothold in the Indian market.”
 
Interactive Avenues was founded in 2006 and has about 200 clients, including major brands in categories including consumer electronics, FMCG, technology, telecom, banking, insurance, travel, e-business and education.