Hype takes majority stake in Asawari Publicity
Advertising major Hype Integracomm Pvt Ltd has picked up a majority stake in the Pune-based Asawari Publicity to enter the ever-growing outdoor advertising market in the western India information technology hub. Asawari Publicity Pvt Ltd is a two-year-old company providing outdoor media solutions to a large number of private companies. It has recently bagged the advertising contract of country's first bus rapid transit system (BRTS) project in Pune, which would now be handled by Hype Integracomm.
Commenting on the new development, Hype Integracomm executive director Jignesh Sharma said, "Pune is one of the fastest growing cities in India. It is the IT and automobile hub as well as a major education hub. Acquisition of Asawari Publicity will help us srengthen its presence in Pune. The deal will help Asawari get financial and marketing support from us".
Sharma added, "The acquisition is in-line with Hype’s core business strategy to imrpove returns for its clients. We are looking at more of such strategic buys if the proposals match our business line".