Mumbai-based built-in communications and advertising and marketing company Mogae Media has acquired 48-year-old home-grown promoting company Rediffusion India. As a part of the settlement, 4 company manufacturers—Rediffusion, Everest Advertising, Rediff Health and Rediff Direct—are being purchased by Mogae Media, which is owned by promoting veteran and former Rediffusion worker Sandeep Goyal. Rediffusion was based by Diwan Arun Nanda, Ajit Balakrishnan and Mohammed Khan in 1973. Khan exited Rediffusion to begin his personal company, Enterprise, in 1983.
All the 4 manufacturers will function as impartial businesses. According to executives aware about the event, the whole buyout is estimated to be within the vary of Rs75 crore to Rs100 crore which will probably be executed in two to 3 years.
Nanda and Balakrishnan have determined to step again from the day-to-day administration of their agency. However, Nanda will proceed to mentor the company and can keep on as chairman. Balakrishnan additionally will step again from all day-to-day operations however focus his consideration on content material platform Rediff.com.
Sandeep Goyal, who additionally served as president of Rediffusion (1997-2001) earlier than beginning his entrepreneurial journey, will come again as managing director of the businesses.
Over the years, Rediffusion has created a few of India’s most iconic and memorable promoting campaigns for manufacturers corresponding to Jenson & Nicholson, Eveready, Parle, Garden Vareli, Godfrey Phillips, Tata Tea, Lakmé, Telco (Tata Motors), Colgate Palmolive, Citibank, and Maruti Suzuki. Rediffusion additionally launched model Airtel in 1995.
The company at present works with Tata Sons, Parle, Tata Trusts, Tata Motors, State Bank of India, Liebherr, Larsen & Toubro, Brookfield, Orra, Eveready, Dey’s Medical, Sulekha, Danone, Sun Pharma, Dr. Reddy’s, and Audi India, amongst others.
In 1994, Rediffusion solid a partnership with Young & Rubicam to develop into Rediffusion Y&R. In 2018, founders Nanda and Balakrishnan purchased again WPP’s 40% stake in Rediffusion and proceed to run it as an impartial promoting agency.
“Rediffusion has been identified through the years for ‘advertising that became famous and part of the language and the culture of the people’, and helped manufacturers construct long run, and lasting fairness with shoppers,” stated Diwan Arun Nanda, chairman, Rediffusion.
“‘Whenever you see colour, think of us’, for Jenson & Nicholson was a path breaking campaign. So was ‘Hum Red & White peene walon ki baat hi kuchh aur hai’ for Red & White cigarettes, ‘Annu taazgi de de’ for Tata Tea, ‘Gimme Red!’ for Eveready and the recent ‘Isko laga dala, toh life jhingalala’ for Tata Sky. Rediffusion was also responsible for creating the cult ad film featuring AR Rahman, with the very memorable Airtel brand tune that has had the highest number of downloads in history,” he added.
In 2012, Goyal launched Mogae Media with workplaces in Delhi, Mumbai and Bengaluru. In 2017, Mogae Media picked up a 10% stake in ad-tech agency Sync Media and later in 2020, the agency entered right into a three way partnership with Australian voice and digital company VERSA that helps manufacturers construct conversational synthetic intelligence options.