Mumbai based digital media agency
Gozoop is in talks to acquire offline activation agency and syndicated content
provider 56 Blue Lights in an all cash deal. Through this acquisition, Gozoop
aim to carry out all their offline work. Gozoop is building the offline part by
making hires from traditional agencies such as JWT and others.
Acquisition of UAE based 56 Blue
Lights will enable Gozoop to offer a wider product portfolio including events,
radio, television programming and outdoor advertising. Gozoop, which has about
140 clients including about 80 on a retainer basis, will get access to 56 Blue
Lights clientele. Through the acquisition the company expects to grow its
topline by over 50% in the coming fiscal.
In the last five years, the company
has expanded its services to the US, the UAE and Singapore. However, about two
thirds of the company’s revenue comes from the Indian market. With complementing
domains of expertise, 56 Blue Lights and Gozoop will together be able to
leverage the potential of 360 degree marketing by coalescing online and offline
marketing strategies. The company counts Holiday Inn, Regal Group, Bank of
Baroda, Noor Oil, Khaleej Times, and the Landmark Group among clients.
56 Blue Lights was founded in 2013
and has been the name behind memorable content in the UAE such as the Cricket
and Carrom Premier League, Nityodita Festival of Fine Arts and Musicians
United. Earlier this year in April, Indus Net Technologies, a Kolkata based
internet consulting company, made a strategic investment to acquire a majority
stake in TechShu after buying out the existing investors.
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