Shandwick International has acquired a 40 per cent stake in Indian
consultancy Corporate Voice.
‘It is one of the consultancies we have been working with on an
affiliate basis,’ said Shandwick International marketing manager Daphne
Luchtenberg. ‘They’ve got a large Indian client base but they are
increasingly working for international clients.’
Following the deal, the balance of ownership will remain with Corporate
Voice’s parent company MAA Group, a marketing services group which owns
companies specialising in advertising, direct marketing, media buying
and video production on the sub-continent.
Shandwick declined to say how much it is paying for the Corporate Voice
shares. It is understood that it was in talks with MAA for a year and
half before finalising the deal.
The move is Shandwick’s second equity purchase since 1992 when it bought
33 per cent of Birmingham firm Haslimann Taylor Buckingham. In January
it bought the PR division of Italian advertising company Grouppo Testa
and merged it with one of its Italian companies Shandwick Marketing
Shandwick’s Hong Kong-based director of Asia Pacific region Michael
Murphy and managing director for continental Europe, with
responsibilities for worldwide affiliates, Volker Stoltz, will oversee
The agency is based in Bangalore with offices in Delhi, Bombay,
Hyderabad, Madras, Kochi and Coimbatore.