Dentsu Aegis has acquired creative marketing agency Happy Creative Service, which will join the global McGarryBowen network, bolstering its presence in India.
As part of a move to expand its footprint in Asia, including Singapore, Hong Kong and China, Dentsu Aegis has acquired the independent agency and rebrand it as Hppy mcgarrybowen in a deal estimated to be 300 crore rupees ($44.4m).
Happy will continue to be headquartered in Bengaluru, with co-founder and chief executive Kartik Iyer and co-founder and managing director Praveen Das will join Detsu’s leadership team, reporting to Dentsu Aegis Network South Asia chairman and chief executive officer Ashish Bhasin.
“This acquisition will be another step closer to our mission of being the second largest agency group by the end of 2017 in India,” said Bhasin. “Happy will continue to operate with same management and independence as before.
“Gradually as they link into mcgarrybowen network they will explore opportunities servicing global clients of mcgarrybowen which have a presence in India. The existing clients of Happy will get the benefit of the tools and learnings that a global agency network will bring. The agency is known for servicing new-age businesses and I hope that thrust will continue.”
Happy was established in 2007 and was recently acclaimed for its work on the ‘Ola Boat’, an emergency boat service set up by Ola cabs to help stranded people in Chennai during the November 2015 floods.
“India represent untapped potential for mcgarrybowen,” commented McGarryBowen founder and global chairman Gordan Bowen. “Like us, Kartik and Praveen believe in the power of big organising ideas, collaboration and strong client partnerships. Together I am confident we will fuel even greater creative and business success for clients here in India and around the world.”
Iyer and Das said it has taken nine years to come so far in terms of talent, business and reputation. “There comes a time in every business to take a big leap to propel it to the next level and being a part of Dentsu Aegis and mcgarrybowen supports this growth ambition and provides us with the right platform,” the statement continued.
“We are presently working with a number of marquee clients that require the support of a global network and we have always been clear that Happy should equip itself to compete with the biggest players on the largest stage.”