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Quad/Graphics Inc has acquired Minneapolis ad agency Periscope Inc and its subsidiaries in Hong Kong and India.
The Wisconsin-based company, which is among the largest magazine and direct-mail printers in the U.S., has purchased Periscope for $132.5 million—about twice the agency’s revenue—in an all-cash deal.
DMD Advocates advised Periscope on the sale of their India operations to Quad/Graphics. The team included Partner Sumit Sinha, Principal Associate Raja Kishore, and Associate Kaushal Prabhat.
Quad/Graphics was represented by Khaitan & Co and the team was led by Partners Rabindra Jhunjhunwala and Ritu Shaktawat, Counsel Stuti Galiya, Senior Associate Avantika Govil and Associates Sneh Shah and Yamini Kumar.
US law firm Moss & Barnett advised Periscope on the overall sale of its business to Quad/Graphics supported by Guantao & Chow as to Hong Kong matters. Quad/Graphics was represented by US law firm Reinhart Boerner Van Deuren s.c., Eversheds Sutherland (as international deal counsel) and MOLITOR Avocats à la Cour SARL (Netherlands).