Campaign India Team
Feb 13, 2015

Rakhshin Patel and Sumantra Sengupta gain majority stake in M&C Saatchi Direct & Digital

Agency re-branded to Pi Communications

Rakhshin Patel and Sumantra Sengupta gain majority stake in M&C Saatchi Direct & Digital
Rakhshin Patel, managing director of M&C Saatchi Direct & Digital and Sumantra Sengupta, CEO of M&C Saatchi Direct & Digital have increased their stake in the agency to gain majority stake. The agency has been re-branded as Pi Communications and will be based in Mumbai. 
M&C Saatchi's India operations will now run only in Delhi, through its agency M&C Saatchi February, which was acquired in August last year.
Chris Jaques, CEO Asia, M&C Saatchi said, “We encourage entrepreneurs and are happy to partner in their success. Given Rakhshin and Sumantra’s efforts in building a formidable and reputable company we offered them a controlling stake in their own company. Over the years, they have built a solid foundation for the agency with long-term client relationships and over 25 awards in just the last three years. The company is now theirs to own, manage and steer to even greater success, leaving us to focus on our  advertising business based out of Delhi.” 
While the name and the ownership changes, the operations of the company will continue as before, with Pi Communications retaining its clients such as Aditya Birla Financial Services Group, Future Group, IL&FS, Kotak, Mahindra Holidays and One Assist amongst others. 
Patel said, "We currently have a majority stake in the agency. We plan to increase that to gain full ownership in the next few months. Despite the change, what remains constant is our commitment, our passion and our ambition. Whether minority or majority shareholding, we always managed the company like it was our very own. Now is the time for us to reap the rewards of our hard work.”
Sumantra Sengupta, CEO, Pi Communications added, “Pi stands for Profitable Interactions. Pi is also a constant. Pi communications is the constant when applied to client objectives, ignites a complete circle of solutions that delivers profitable interactions.”
Campaign India

Related Articles

Just Published

13 hours ago

Eros Now apologises after Navratri post causes outrage

A post featuring Katrina Kaif caused the controversy

15 hours ago

Hansa Research files a suit against Republic TV

Republic TV referred to a 'Hansa report' on broadcast without seeking permission from the agency

16 hours ago

Oyo looks to spread safety with 'first spray, then ...

Watch the film conceptualised by the in-house team here

18 hours ago

Snap revenue climbs, but monetising new users ...

Social media platform's revenue rose 52% for the third quarter, daily active users climbed 18% and overall per user revenue jumped 28%.