Madison Media Buys B’luru Co HiveMinds
New Delhi: Madison Media has acquired a controlling stake in Bengaluru-based marketing agency HiveMinds Innovative Market Solutions for an undisclosed amount.
“Marketers are embracing customer focused digital opportunities. I am delighted at the progress Madison Media has made in the digital space in the last one year and having HiveMinds as part of us will further strengthen the way we partner with our clients in their digital transformation journey,” said Lara Balsara, executive director of Madison World, which owns Madison Media. Madison Media handles digital campaigns for brands such as Marico, Asian Paints, Godrej Properties, Tata Chemicals and ITC. Its parent company had recently acquired majority stake in another Bengalurubased PR agency, Brandcom.
Balsara declined to give the financial details of the deal. HiveMinds, which works with Bigbasket, ABOF, Cleartrip and Cloudnine Hospitals, among others, was founded six years ago by Jyothirmayee JT. It specialises in search, social, performance marketing and programmatic buying, and in ecommerce, education and travel. Its 70-member-strong team has handled digital marketing for startups like TutorVista, Babyoye, redBus, TaxiForSure, Simplilearn and MobiKwik.
Madison World is well known for its media buying and creative capabilities.