Bates Asia acquires Enterprise Nexus in IndiaWPP notches up yet another gain in the Indian market.
WPP today announced that its operating company Bates Asia, the leading Pan Asian advertising agency network has agreed to acquire, subject to regulatory approvals, a majority stake in Enterprise Nexus Communications Private Limited, a leading Indian creative advertising agency. The merged entity, to be named Bates Enterprise, will have some of the bluest chip accounts in the country, including major Indian and multinational companies.
This latest development continues WPP’s strategy of developing its networks in fast growing markets and sectors. In India the WPP Group includes leading advertising agencies JWT, O&M, Rediffusion DY&R and Grey Worldwide. The merged entity now becomes the fifth WPP agency network in the top 10 in India.
Under the agreement, Mohammed Khan, founder of Enterprise Nexus, will assume the role of Executive Chairman while Subhash Kamath will be the CEO of Bates Enterprise. The Bates Enterprise combine will have offices in all the main metros of India and will offer a complete range of communications services. Apart from the main advertising business, the Bates India group will also include 141 Worldwide for through-the-line marketing services, as well as public relations and exhibitions.
Commenting on the merger Ranjan Kapur, Non Exec. Chairman, Bates Asia, said, ‘This is a perfect fit, no conflicts. Perfect management and creative match and a growth in both geographical spread and 360 offerings. I am very bullish on the future of Bates Enterprise, as it will now be called.
Says Mohammed Khan, Chairman Designate Bates Enterprise, "We are embarking on one of the most exciting periods in the lives of both agencies. Both teams get tremendously strengthened with the merger. And I’m convinced that it’ll soon reflect in our work…We’re all geared up to creating a new benchmark in advertising!" Agreeing, Subhash Kamath, CEO Bates Enterprise says, "It’s a great opportunity to create something really fantastic. It’s an awesome team, terrific brands, and we’re really looking forward to doing some path breaking work for our clients. We’re all extremely charged up!"