Pressman Advertising Limited and its promoters have signed a Memorandum of Understanding (MoU) with Signpost India Private Limited. Ltd. and its promoters to merge and form a single larger entity. The merger proposal is subject to statutory, regulatory and other approvals including relevant third-party consent. “This [move] The two companies will help pool in the experience, expertise, resources and customer base; “Offer a large bouquet of services in the areas of advertising and promotion with a focus on digital media and emerging technologies,” Pressman said in a statement. “The proposed merger will result in streamlining of operations and cost efficiencies and accelerate business collaboration with the combined clients of both the companies,” the firm said. The Company has constituted a Committee of Directors to facilitate the merger process including appointment of Registered Valuers, Merchant Bankers, Legal Advisors and other intermediaries. Signpost is an independent ISO-certified digital out-of-home enterprise (DOOH). It has experience in implementing large-scale public-oriented projects with over 32 government authorities across the country, including street furniture, transit, public bicycle sharing and Internet traffic monitoring systems. In FY20, Signpost reported a revenue of ₹425.40 crore and a net profit of ₹17.63 crore. It attributed the fall in revenue to ₹185.54 crore and net profit the following year to the effects of the pandemic. Pressman is an independent advertising agency largely engaged in print advertising, public relations and digital advertising. It is a debt-free company with cash reserves of around ₹40 crore. Dr. Niren Suchanti, Chairman and Managing Director, Pressman Advertising, said, “It has always been our endeavor to act in the best interest of our shareholders and this alliance will enable rapid growth with a great offering and the combined strength of the two entities and Significant increase in shareholder value.” Shripad Ashtekar, CEO & Co-Founder, Signpost, said, “We have been a leader in many areas of digital out-of-home advertising as well as emerging technologies and we are confident that our coming together will lead to accelerated business growth. For the benefit of all stakeholders.”