Digital media agency Gozoop in talks to acquire 56 Blue Lights

Mumbai-based digital media agency Gozoop is in talks to acquire offline activation agency and syndicated content provider 56 Blue Lights in an allcash deal. “In India, we are building the offline part by making hires from traditional agencies such as JWT and others. In Dubai, we are taking an inorganic route,” said Dushyant Bhatia, cofounder of Gozoop.

“Through this acquisition, we aim to carry out all our offline work. We will also get access to their clients like Bank of Baroda and Landmark Group, amongst others.” Bhatia did not share how much the company was willing to pay but said it would be an all-cash deal.

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.

 

SOURCE: PTI