Dentsu has agreed to acquire Bangalore, India-based ad agency Happy Creative Services. Terms weren’t disclosed but the deal is expected to close in the next few weeks.
Following the acquisition, Happy Creative will become part of mcgarrybowen, one of Dentsu's ten global network brands, and will be rebranded "Happy mcgarrybowen."
The purchase will establish
mcgarrybowen’s fourth office in Asia. Headquartered in New York, the agency currently has offices in Chicago, San Francisco, San Antonio, Mexico City, São Paulo, London, Paris, Amsterdam,
Shanghai, Hong Kong and Singapore.
Founded in 2007 Happy Creative’s offering includes brand creation, online and offline communication strategies for existing brands, and the planning and implementation of marketing campaigns. It currently has a staff of approximately 100.
The agency’s two co-founders-- CEO Kartik Iyer, and Chief Creative Officer Praveen Das--will both report to Ashish Bhasin, Chairman and CEO of Dentsu Aegis Network South Asia.
In its September ad spending forecast, Carat, also part of Dentsu, reported that the India market will grow 12% this year and nearly 14% in 2017.