Tribes Acquires Full Ownership Of Ignite & The Max
In 2018, the agency acquired a 51 per cent stake in DDB Mudra Max, a prominent Experiential & OOH agency
In a major milestone, Tribes has acquired full ownership of Ignite and The Max after a 100 per cent stake buyout from DDB Mudra.
Tribes’ journey began in 2015 under the leadership of Gour Gupta. As the former CEO of Clear Channel Mudra and CEO of DDB Mudra Max OOH and Experiential, Gupta acquired Clear Channel's stake in the joint venture with DDB Mudra. With this bold move, he rebranded the company as Ignite Mudra, setting the stage for the emergence of the parent brand—Tribes.
Since its inception, Tribes has expanded its portfolio of services, encompassing a diverse range of cutting-edge offerings. In 2018, the agency acquired a 51 per cent stake in DDB Mudra Max, a prominent Experiential & OOH agency, expanding its reach and leveraging a wider network of resources and expertise. The company was rebranded as The Max.
Now, in a momentous development, Tribes has successfully bought 100 per cent stake from the venture with DDB Mudra, achieving full ownership and control over its operations, signifying a new chapter in the agency's evolution.
"We are thrilled to announce our successful 100 per cent acquisition of Ignite and The Max from DDB Mudra," Gour Gupta, Chairman of Tribes told a media house. "This strategic move further strengthens our position as India's largest OOH and experiential agency, and we are excited about the opportunities it brings for growth and innovation."
A DDB Mudra Group's spokesperson, meanwhile, said, "We wish Gour and his team the very best in the future. It has been a fruitful partnership and we've done some good work together. As we focus on our core brand, creative and digital businesses, we have been rationalising our portfolio - starting with the move to a minority holding in this business five years ago. Now that the Max Publicity team is doubling down on their ambitious expansion plans, we are happy to have them take full ownership of our shareholding."
As a fully integrated agency Tribes has a slew of specialist brands under it including Ignite, The Max, Insync, The Tech Company which offer a comprehensive suite of services, including OOH advertising, experiential marketing, activation, digital solutions, and more.
Tribes now has an extensive client roster with over 100 clients which includes industry giants such as Amazon, Facebook, Google, Honda, Swiggy, Diageo, Michelin, Phillips, OnePlus, Pepsi, Jockey, Yamaha, Kotak Bank, HDFC ERGO, Marks & Spencer, H&M, Godrej, WNS, Aditya Birla, Real Me, HP, Microsoft, Schneider, Government Of India, ITC, Deloitte, PWC, Legrand, MG motors and many more.
The agency currently has a turnover of Rs 521 crore, revenue of Rs 68 crore and consolidated capitalized billing of Rs 680 crore.
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