IPG Acquires entire stake in Lintas India

Mumbai, July 3 (UNI) New York-based Interpublic Group (IPG), a global player in advertising and marketing, has acquired 100 percent stake in Lintas India Private Limited for an undisclosed amount.

IPG already had 49 percent stake in Lintas, which it acquired in two phases in 1969 and 1998. With the completion of Integration process, Lintas would now operate as a part of IPG promoted Lowe Worldwide Network.

The post-acquisition entity will be redesigned into a 'high value ideas company' and will set up centers in 10 hubs worldwide, said Stephen Gatfield, IPG Executive Vice President.

''Lintas has been a key partner of Lowe Worldwide for more than three decades and has brought great business in India. The entity will work closely in future also with IPG ventures'', Mr. Gatfield told reporters.

The group is also on the look out for suitable partners in its ventures and is likely to set up joint ventures, he said.

Lowe worldwide's client roaster include Unilever, Nokia, Johnson&Johnson, Nestle, Saab and Stella Artois.

Started in 1969, Lintas India Private Limited is providing integrated communication solutions to clients and has leading brands like Initiative, Insight, Interactions, Intellect and Media Futures.

The company has 200 clients in domestic market that include Industry-heads like Tata, Nestle, Bajaj Auto, ICICI Prudential and Berger Paints.

UNI