New Delhi: Integrated marketing and communications agency Mogae Media is all set to acquire independent advertising agency Rediffusion.

The deal also includes sibling agency Everest Brand Solutions.

Rediffusion was launched by Diwan Arun Nanda, Ajit Balkrishnan, and Mohammed Khan in 1973. In 1994, agency holding network WPP had acquired Rediffusion and merged it with US agency Young & Rubicam (Y&R) to form Rediffusion Y&R. In 2018, Nanda and Balakrishnan gained 100 per cent control of the agency to become an independent entity once again.

It is learnt that post the current acquisition, Mogae Media founder & chairman Sandeep Goyal will take over as the managing director of the agency. Goyal was president at Rediffusion (Rediffusion Y&R) between 1997 and 2001, after which he left the firm to become Zee Group’s chief executive officer. He had exited the Zee Group a year later and entered into a joint venture with dentsu to become its group chairman. In 2011, he sold his stake and launched Mogae Media.