TBWA Worldwide has completed the acquisition of the 49% of shares, currently held by Indian shareholders. Following this acquisition, TBWA Worldwide, together with Omnicom will own 100% of TBWA India. George John is the largest of the three local shareholders, and will serve TBWA India in an advisory capacity after September. Kurien Mathews is the second shareholder, and will remain with TBWA India till the end of September. N Krishnan, the third shareholder, is to assume the role of COO, TBWA India Group.
Commenting on the acquisition, Keith Smith, president, International TBWA Worldwide said, “The consolidation of our stake constitutes the closing of a very significant chapter in the history of TBWA in India. We have had a very successful new business run in the last two years, which has propelled us up the agency rankings list. Our ability to deliver truly Disruptive solutions together with strong creative work has really seen TBWA arrive on the advertising map in India.” He further added, “I would like to thank George and Kurien for everything they have done for the agency. They have been not just business partners but close friends as well. My congratulations to Krishnan on his newly expanded role with the network. We are looking for great things from his partnership with Shiv Sethuraman.”
Shiv Sethuraman, Chief Executive Officer, TBWA India Group, added, “I am happy that this agreement has been signed. This is the logical conclusion of the restructuring process that began much earlier. I look forward to building a strong and exciting TBWA India and will begin by making some very important announcements in the weeks to come.”
Speaking about the acquisition, George John said, "I had a terrific time building this agency, blessed as I was, with great partners first in the form of Krishnan and Kurien and then in TBWA Worldwide and Keith Smith. They made the journey thoroughly enjoyable. Over the last four years the agency has gone from strength to strength. Today I am proud of the position TBWA India has in Indian advertising. The agency has achieved great momentum and can only grow under the leadership of Shiv Sethuraman, the fine team he has with him, the power of the TBWA brand and Disruption.”
TBWA India currently handles accounts such as Playstation, GE Money Wizard, TATA Gold Plus, Polaris, Dabur Consumer Care, Planet M and Procall, amongst others.