Mumbai, July 3: Interpublic Group of Companies, the US-based advertising and marketing services provider, has acquired an additional 51 per cent in Lintas India for an undisclosed amount. The buyout takes its stake in Lintas India to 100 per cent.

Interpublic (IPG) had picked up a 40 per cent stake in the company in 1969, which it subsequently raised to 49 per cent.

“India is taking its place on the world stage. Apart from world-class talent, Indian companies are building brands around the world in travel, professional services, auto and industrials like never before,” Lowe Worldwide CEO Stephen Gatfield said while commenting on the acquisition.

Lowe Worldwide is the flagship advertising agency of IPG.

According to industry sources, it is one of the biggest deals in the the Indian advertising segment.

Gatfield said the company would soon set up a 24-hour studio for back-end support.

Lintas’s businesses include Lintas Personal, Linterland, Linopinion, Advent, Lintertainment, Lintas Healthcare, Dcell and Aaren Initiative.

It has nearly 200 clients, including Hindustan Unilever, ITC, Idea, Maruti, LG, Nestle, Britannia and Bajaj Auto.

It is not clear whether Lintas’s recent venture, The Northpoint Learning Centre at Lonavla, will be included in the buyout.

Gatfield said the acquisition would help accelerate innovation and entrepreneurship in Lintas India with greater sponsorship from Lowe and IPG.

“The deal will allow us to expedite development of Lintas India’s integrated business through closer networking with IPG’s specialised organisations abroad,” he said.

The group plans to leverage India’s competence and cost advantages.