Advertising group Publicis acquires digital agency Convonix

Mumbai: French advertising major PublicisGroupe said it has acquired Mumbai-based Convonix, a digital marketing and consulting firm cementing its place in the fast growing digital space. Convonix will align with StarcomMediaVest here in India, the advertising group said Monday. Convonix's strength lies in search, social and analytics, a company statement said adding that this will combine well with Starcom's expertise in media strategy.

Convonix's geographical presence in India will expand to Delhi, Bangalore and Chennai besides Mumbai post the acquisition. The Publicis group has over the last year made a number of acquisitions including Indigo Consulting, Resultrix , iStrat and MarketGate. It aims at doubling its size in India between 2010 and 2015 taking on its biggest rival WPP in the local market.

Founded in 2003, Convonix 's three founding members; Vishal Sampat, CEO; Sarfaraz Khimani, co-COO; and Pallav Jain, co-COO, will continue to lead the agency. Convonix will now operate as Starcome MediaVest Convonix, with two market-facing brands: SMG Digital and Convonix.

"Convonix has continued to innovate and build the very best digital capability whilst being highly respected for its ability to recruit the best talent from universities each year, and transform them into digital advertising experts through a rigorous training program," said Laura Desmond, global chief executive officer for Starcom MediaVest Group.

According to the latest ZenithOptimedia adspend forecast, search marketing continues to expand rapidly in India and is forecast to increase 35% in the region during 2013, and more than 70% in the next two years. Vishal Sampat, CEO for Convonix said, "We have built our reputation by focusing on talent, training, technology and performance, and doing so has enabled us to rapidly evolve with the consumer. Aligning with Starcom MediaVest group gives us global scale and a more powerful face to the market which we can leverage to constantly improve our offering and give our clients the best tools and solutions available."

Srikant Sastri, VivaKi' country chair for India who is presiding over the acquisition and transition of Convonix said, "We are positive that this acquisition will set the tone for our next phase of digital pre-eminence both in terms of expertise and revenue and we are continuing to explore other agencies that can help us capitalize on the outstanding potential of the digital marketplace in India."