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Our Bureau

Chennai , Sept. 6

Sanguine Media, a Chennai-based television software production and marketing company, has acquired Godavari Ads Pvt Ltd.

Andhra Pradesh-based Godavari Ads provides event management and rural marketing services. Mr D.V. Vinod Gopal, Chief Executive Officer, Sanguine Media, said that the strategic acquisition would help the company provide end-to-end solutions in the television advertisement space.

He said that advertisement companies have not had much success in penetrating rural markets, owing to the low penetration of mass media.

He expects Godavari Ads' business to grow to Rs 38 crore in the next few years from its current annual revenue of Rs 3.6 crore. Sanguine Media recorded sales of Rs 13.25 crore last financial year.

Godavari Ads' clients include Procter & Gamble, Nestle, Britannia and ITC.

More Stories on : Mergers & Acquisitions | Rural Marketing | Radio/TV | Advertising

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