Mumbai: Multimedia and digital marketing agency Dentsu Aegis Network has acquired Gurgaon-based SVG Media for an undisclosed amount. SVG Media is a joint venture between Manish Vij’s Vun Network and Harish Bahl’s Smile Group.
Post the acquisition, SVG Media will become part of Dentsu’s Asia Pacific digital marketing agency Columbus, and will be renamed as SVG Columbus. This deal will allow Dentsu to acquire DGM, Seventynine and Komli brands, while Smile Group will retain Tyroo.
The acquisition will see Bahl and Vij exit as chairman and CEO, respectively, of SVG Media. DGM CEO Anurag Gupta will now be CEO of SVG Columbus. In addition, Chirag Shah, CEO of SVG Mobile and Seventy-nine; Deven Dharamdasani, COO of SVG Mobile and Seventy-nine; Akshay Mathur, business head of Komli; and Ashwani Mehta, finance controller at SVG Media will join the board of the acquired entity.
Avendus Capital was the exclusive financial advisor to SVG Media on this transaction. SVG Media is present in businesses like mobile and digital advertising, in-app video platform and data targeting.
Ashish Bhasin, chairman and CEO, Dentsu Aegis Network South Asia, said, “As a group, we have a leading position in digital in India, particularly in search and performance and this deal gives us a clear leadership position in this area.”
Founded in 2006, SVG Media employs around 280 professionals in four cities—Gurgaon, Mumbai, Chennai and Bangalore.