MSLGroup is poised to acquire India's Perfect Relations in a deal expected to be announced in December, following months of speculation.
 Cherian and Kewalramani |
Delhi-based Perfect Relations works with Coca-Cola, Diageo, tara jewelers and General Mills, among several multinationals and South Asia-based clients. MSLGroup is looking at a purchase price from 1.5-2B rupees (around $25M-$30M), according to India's Economic Times, which pegs a mid-December closing date. The firm has annual revenue of about $8M, the Times reported.
Dilip Cherian and Bobby Kewalramani founded Perfect 20 years ago. CEO Valerie Pinto stepped down in September.
MSL in 2007 acquired Hanmer Communications of Mumbai, giving it the Hanmer MSL name in 2012. The firm followed up that deal with the acquisition of 140-staffer tech and social media PR shop 20:20 Media in 2010, giving it a bolstered presence in several cities, including Delhi, Bangalore, Chennai and Pune, among others.
An MSL executive said the firm won't comment on potential deals.
MSLGroup is part of Publicis, which is plucking down $3.7B to buy digital ad and tech services provider Sapient.
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