Pressman Advertising and its promoters have signed a definitive memorandum of understanding with Signpost India and its promoters. The two agencies aim to join hands and pool resources to create a larger entity.
The merger is subject to statutory and regulatory approvals.
Once the agencies merge, the duo aim to offer a larger bouquet of services in the areas of advertising and promotion, with focus on digital media.
Signpost operates in the out of home space with a focus on digital (DOOH). Pressman is an independent advertising agency engaged largely in print advertising, public relations and digital advertising.
Niren Suchanti, chairman and managing director, Pressman Advertising, said, “It has always been our endeavour to work in the interest of our shareholders and this alliance will enable rapid growth with a larger offering and the combined strength of the two entities and significantly enhance shareholders’ value.”
Shripad Ashtekar, CEO and co-founder, Signpost, said, “We are very excited about working with Pressman, a company with an impeccable track record. We have been a pioneer in digital out of home advertising as well as in several areas of emerging technologies and are confident that our coming together will result in accelerated growth of business for the benefit of all stakeholders.”