Lintas Media Group has completed its acquisition of Aaren Initiative. The 50% stake held by the joint venture partner, Aaren Advertising, has now been purchased by Lintas in an amicable settlement. The name of the agency has been changed to Lintas Initiative.
Aaren Initiative Outdoor was initially set up as a 50-50 joint venture between Lintas and Aaren ten years ago.
Lynn de Souza, chairman and chief executive officer, Lintas Media Group and chairman of Aaren Initiative will continue to be the chairman of the wholly owned agency.
Commenting on the development, she said, “Through this acquisition we hope to work with many more global clients and have made plans to invest in the right tools and people to transform Lintas Initiative Outdoor into a future ready OOH and retail player. We are grateful to our erstwhile partners, Aaren, for all their counsel and support during the formative years of the agency.”
Hemanth Shah will continue to function as the managing director.
Elaborating on his role, Shah said, “The team shall have the independence to function and nurture non-network clients and the network clients shall experience seamless deliveries. The acquisition allows for the company to plan holistic solutions and integrate them into its offerings right from creative to all-media.”