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Leo Burnett acquires majority stake in Sri Lanka-based Solutions Group

Leo Burnett acquires majority stake in Sri Lanka-based Solutions Group

Publicis Groupe company Leo Burnett Worldwide has acquired a majority stake in Sri Lanka-based communications company Solutions Group for an undisclosed sum.

Accordingly, Leo Burnett Sri Lanka and Arc Worldwide Sri Lanka will now be fully integrated into Publicis Communications, one of Publicis Groupe’s four solutions hubs regrouping all creative communications activities.

“Given the tremendous growth and creative opportunities in Sri Lanka, I am thrilled to see Leo Burnett join forces with the talent and possibility that resides within the Solutions Group,” said Leo Burnett Worldwide CEO Rich Stoddart.

As part of this acquisition, Solutions Group also acquired 100% ownership of First Media Solutions, which represented Starcom Worldwide in Sri Lanka and was the first international independent media brand to enter Sri Lanka. Consequently, First Media will now be fully integrated into the Publicis Groupe.

“We are thrilled to strengthen our partnership and to continue our efforts to build Leo Burnett’s position as a leading creative force in the country. I am confident that all the stakeholders will benefit greatly from the access to our global footprint,” said Leo Burnett Sri Lanka MD Ranil de Silva.

Founded in 1999, the Solutions Group has been headed by Ranil de Silva. As of now, the company has 81 of the country’s best and brightest professionals whose work has been consistently recognised globally at leading awards shows including Cannes Lions, D&AD, London International, Clio, Adfest, Spikes Asia and more.

Leo Burnett Sri Lanka’s success across creativity and business has led it to be awarded at Asia-Pacific’s premier Agency of the Year Awards by Campaign Asia three years in a row. This acquisition will complement Leo Burnett’s existing service in the market, delivering best-in-class work and campaigns across the value chain, and creating ideas that truly move people.

(televisionpost.com)

Last modified on Friday, 22 April 2016 10:10