Grey Global group, a part of the WPP Network, is in talks with interactive media companies in India for acquisitions. Nirvik Singh, chairman-south Asia and president-southeast Asia, Grey Global group, confirmed that his company was targeting inorganic growth opportunities.
Grey is said to be in talks with companies in the event management, marketing services and customer relationship management space.
"We are keen on expanding our interactive business and are on the lookout for acquiring capabilities in SMS marketing, search engine optimisation and other digital services," Singh said. The group already has a separate unit G2, under which it has digital capabilities through its interactive, activation and exhibition operations.
"We have ambitious growth plans and organic growth can get you only so far," Singh said. The acquisitions are expected to add at least 20 per cent to the company's turnover in 2007. Even as he refused to divulge the companies to be acquired, Singh said it would help the agency increase the share of marketing services to its total turnover.
Mainline advertising contributes 70 per cent of the agency's turnover in India. Keeping in line with the parent WPP group's vision, Singh expects marketing services to become 50 per cent of the total turnover by the end of 2007."With the fragmentation of the media, classical advertising is not the only answer. Marketing services are going to become increasingly important," he added. "At the top end, consumers are looking for a brand experience, and this is where marketing services play a role," Singh said.