Dentsu Aegis Network announces acquisition of Fountainhead Entertainment
After the talks and speculations having been on for around six months, Dentsu Aegis Network today has officially announced the acquisition of Fountainhead Entertainment, the events and experiential marketing agency.
Having been established by event industry patrons Brian Tellis, Neale Murray and Otis D’Souza in 1994, Fountainhead Entertainment is headquartered in Mumbai and has over 200 employees. The agency boasts of having over 100 illustrious brands in its portfolio and specializes in all types of events, digital initiatives, product launches, brand activation and meetings, incentives, conferences and exhibitions.
Industry sources reveal, that the size of the deal is between Rs 300-400 crore.
Speaking about the acquisition Ashish Bhasin, Chairman and CEO of Dentsu Aegis Network South Asia, said, “The BTL part of the business has been growing twice as much as ATL. We already have PsLIVE and now we look forward to combine the two and become largest in the experiential field.”
The current management of Fountainhead team is expected to stay as it is. Post-acquisition too, Fountainhead will continue to be led by CEO, Brian Tellis, who will now report to Ashish Bhasin.
This acquisition adds up to the dream of Dentsu Aegis Network to become the second largest agency group by end 2017 in India.
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