The majority acquisition, which closed Friday, will be one of the largest in India within this sector, according to DAN, which added this is its eighth acquisition in the region this year. In 2016, DAN expects to merge its existing experiential offering psLIVE, which has 86 people in India, with Fountainhead, making the combined agency India’s largest experiential and activation agency business.
Fountainhead, founded in 1994, has its headquarters in Mumbai and offices in Delhi and Bangalore. The founders are Brian Tellis, CEO; Neale Murray, managing director; and Otis D’Souza, director. The management staff also includes co-directors Pradeep Guha, V G Jairam and Owen Roncon.
Tellis will continue to lead the company after the acquisition, reporting to Ashish Bhasin, chairman and CEO of Dentsu Aegis Network South Asia. The current management team will also continue as is.
The company handles all types of events, digital initiatives, product launches, brand activation and meetings, incentives, conferences and exhibitions through its five brands: Fountainhead Events, Oranjuice Entertainment, Fountainhead Activations, Fountainhead Corporate Journeys and Fountainhead Digital. Together, they deliver more than 350 events a year.
“Fountainhead’s reputation in the event and activation market, and their extensive experience in both music and sports marketing, complements and strengthens our experiential offering in one of the region’s most exciting markets," said Nick Waters, CEO of Dentsu Aegis Network Asia Pacific.
Added Bhasin, "This is another big step forward in helping us achieve our mission of being the second largest agency group by end 2017 in India, overturning for the first time the existing ranking which has historically been in place for over 80 years in India.”
Tellis said the company's vision is to deliver "world-class experiences" while setting "benchmarks in delivery through cutting-edge creativity, innovation, value pricing and practices and processes".
Financial terms were not disclosed.