This story first appeared in DNA Money edition on Friday, April 19, 2013.
Publicis Groupe, the world’s third largest communications firm, has acquired Bangalore-based technology services provider Neev as part of its plan to beef up digital presence in India.
Financial details were not disclosed.
Publicis plans to align Neev with Razorfish, a group firm, which is one of the largest interactive marketing and technology companies globally.
Kanika Mathur (pictured), managing director, Razorfish and Digitas India, told dna, “Collaboration of Razorfish’s interactive marketing prowess with Neev’s cutting-edge technology capabilities would play a determinative role in our digital leadership positioning here. With this deal in place, we will now be able to offer India, a state-of-the-art technology that is available globally.”
Neev specialises in eCommerce, SaaS (Software as a Service) and cloud applications across web, social media and mobile. The acquisition marks Razorfish’s launch in India, wherein Neev will help strengthen and scale up Razorfish’s expertise.
“It will be aligned with Razorfish and will operate as Razorfish Neev,” said Mathur without sharing Neev’s billing and market share details since its inception in 2005.
About 220 out of the 250 specialists employed by Neev are pure-play technologists with experience / expertise in leveraging cloud, mobile technologies and promoting innovation.
Saurabh Chandra, CEO, Neev, said the company has a track record for cutting edge product innovation and market firsts in areas of video streaming, e-commerce, data visualisation, including patents in cloud and mobility.
“Working seamlessly with the clients’ teams, we serve a growing list of prominent brands and technology companies, mainly in India and the US. The company has increased revenues on average 45% since 2007,” said Chandra.
While the technology centre and hub of Neev will continue to be in Bangalore, the new entity will have a national presence with offices in Delhi, Mumbai and Pune.
The company plans to increase team strength to 350 by the end of this year and double it in a few years.
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