New Delhi: Dentsu Aegis Network has announced the acquisition of creative marketing agency Happy Creative Services (also known as Happy) which will join the global McGarryBowen network of agencies and be rebranded as Happy mcgarrybowen. The deal size is estimated to be up to ₹ 300 crore.
The acquisition marks the first McGarryBowen agency in India as it expands its footprint in Asia—with other offices in Singapore, Hong Kong and China.
Happy will continue to be headquartered in Bengaluru. The agency’s co-founder and chief executive Kartik Iyer, and co-founder and managing director Praveen Das, will join the Dentsu’s leadership team reporting to Ashish Bhasin, chairman and CEO of Dentsu Aegis Network South Asia.
“This acquisition will be another step closer to our mission of being the second largest agency group by the end of 2017 in India. 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," said Bhasin.
Noting that India is an important creative market that boasts world-class talent and an enviable group of multinational clients Gordon Bowen, McGarryBowen founder and global chairman said, “India represent untapped potential for mcgarrybowen. 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."
“It has taken us a good nine years to come this 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. 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," said Iyer and Das in an official statement.
Established in 2007, Happy Creative Services is an independent creative outfit with a staff of 100 across three disciplines—brand design, integrated brand Communication and Digital. Recently, Happy bagged the ‘Agency of the Year’ title at the 2016 edition of Maddys, organised by The Advertising Club Madras.
Happy’s work on the ‘Ola Boat’, which was an emergency boat service set up by Ola cabs to help stranded people in the city of Chennai during the November 2015 floods, also won numerous national and international awards.