Financial Daily from THE HINDU group of publications
Tuesday, Dec 13, 2005
Financial Daily from THE HINDU group of publications Tuesday, Dec 13, 2005 |
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Marketing
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Mergers & Acquisitions Burson-Marsteller acquires Genesis PR Our Bureau
New Delhi , Dec. 12 GLOBAL public relations firm, Burson-Marsteller has acquired Genesis PR in India. With this acquisition, the foreign company will add another outfit to its already existing network of 50 wholly owned offices and 43 affiliate offices operating in 57 countries. Burson-Marsteller is a part of Young & Rubicam Brands, a subsidiary of WPP Group plc. According to Mr Ashwani Singla, Chief Executive Officer, Genesis PR, "Burson-Marsteller has been affiliated with our company for over four years." He, however, did not put a value to the transaction due to a confidentiality agreement with the foreign company. Earlier, Burson-Marsteller had an equity tie-up with another public relations company in India, which came to an end after it decided to align itself with Genesis PR. Genesis PR, which currently has about 200 employees, has a direct presence in the metros and representations in different States covering about 80 cities across India. An application has already been filed with the Foreign Investment Promotion Board. "Burson-Marsteller is the global PR firm by which others are measured. To be a part of the best global public relations company reflects the strong strategic fit and shared values between Burson-Marsteller and Genesis Public Relations," said Ms Prema Sagar, Genesis Public Relations Principal and Founder. She along with CEO, Mr Ashwani Singla will be in-charge of the operations here and will also be inducted into Burson-Marsteller's Asia Pacific Leadership Board. By number of employees, India and China now represent Burson-Marsteller's second and third largest markets worldwide.
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