Rediffusion- Y&R close to buying two firms in India and US

Mumbai, Nov 11: Leading communication firm, Rediffusion - Y&R is in the advanced stages of acquiring two media communication companies in India and US this fiscal, a top official said.

This will help the Mumbai-based firm to expand its business in the global online media space, Rediffusion- Y&R Group CEO, Mahesh Chauhan told PTI here.

"Our company is in talks with various companies and looking for acquisitions in India and in US. We plan to buy two firms in India and US in the current financial year," Chauhan said, without divulging further details including the amount set aside for the acquisitions.

Post acquisitions, the company expects to derive 15 per cent of its total revenue from the online media segment over the next three years, Chauhan said.

The company has also chalked out strategies to restructure operations under a single umbrella. As per the strategy -- Brand Conversations -- the company will canvas potential customers in the market using dedicated teams.

"In today's world, brands need a real ongoing two-way conversation with consumers, to recognise that the brand is not just what resides in the consumers head but is actually co-created with them," Chauhan said.