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India based 22Feet Digital in talks with holding companies for sale

India is dubbed as one of the hottest investment markets, courtesy the growth in digital media, in 2013. It appears that the year is ending with some preparation for 2014 to continue this trend. The industry is abuzz with rumours of 22feet Digital Solutions being the latest agency that will soon tie the knot with a global partner.
While the agency is said to be in talks with at least two global holding agencies for an acquisition deal, the front-runner appears to be Omnicom Group in India. It is understood that Omnicom is aligning this deal with its agency DDB Mudra. Even though Publicis Groupe has kept itself busy with various acquisitions in India, and in the Asia Pacific region, continuing the strategy even after the Publicis Omnicom Group (POG) announcement, this would be one of the first announcements coming from Omnicom in a while.
At present, TribalDDB is the digital arm of DDB Mudra Group. It is still unclear whether the agency would merge 22Feet with Tribal DDB or keep the two entities independent.
Bangalore-based 22feet Digital Solutions was founded by Brijesh Jacob, Deepak Nair, Vineet Gupta and Vinod Moolacherry in 2009 and has seen quick growth since, acquiring clients such as Fastrack, Axe, Kingfisher, Cafe Coffee Day, Lenovo, Heineken, Parachute and others.
In India, the trend of acquiring young, yet established digital agencies has been steady in the last few years. Very recently, JWT’s majority stake acquisition in homegrown Hungama Digital or Publicis Groupe’s Leo Burnett acquiring Indigo Consulting, ZenithOptimedia acquiring Resultrix, Publicis Worldwide acquiring iStrat or Aegis Media acquiring Communicate2 were just some of the examples in the space.
Officials from 22feet Digital Solutions could not be contacted at the time of filing the report but an announcement is expected soon.