Publicis Groupe has announced that it has signed an agreement to acquire a majority stake in 20:20 MEDIA and in its social media consulting firm 2020Social. Subject to the approval of the Indian government’s Foreign Investment Promotion Board (FIPB), the acquired entities will become part of MS&LGroup, Publicis Groupe’s flagship PR and events network.
Founded in 1989, 20:20 MEDIA employs more than 140 staff across its offices in Delhi, Mumbai, Bangalore, Chennai, Hyderabad and Pune.
A company statement says the acquisition of 2020Social gives MS&LGroup clients "access to India’s first social media consulting firm." 2020Social was founded in 2009 and focuses on strategy and advisory services for C-suite executives, marketers and PR directors, and provides technology development, campaign management and evaluation.
20:20 MEDIA and 2020Social will each operate independently alongside MS&LGroup’s existing multi-discipline communications agency in India, Hanmer MS&L.
The three agency operations will be united under the common MS&LGroup India brand. A company statement states that the operations of each agency will remain independent as distinct business units, but will be directed by a common India business strategy and Management Board. This board will be chaired by MS&LGroup Asia President Glenn Osaki, and other. members will include Sunil Gautam and Jaideep Shergill representing Hanmer MS&L, Sunil Agarwal and Chetan Mahajan representing 20:20 MEDIA and 2020Social, as well as other representatives from MS&LGroup.