Wondrlab is understood to be in talks to acquire Madison, according to industry sources.

Founded in 2020 by former Publicis Groupe executives Saurabh Varma, Vandana Verma and Rakesh Hinduja, Wondrlab has since completed seven acquisitions across India, Europe and the US as part of its expansion strategy.

Madison has previously been linked with potential suitors including Havas and Publicis Groupe. At the time, Lara Balsara Vajifdar, executive director, Madison World, described such reports as 'purely speculative', adding that this was not the first time the agency had been associated with a potential partner.

“We have been open to a partnership. But the terms have to be appropriate, in the best interests of our clients and employees, and help future-proof Madison,” she said.

Madison World was founded by Sam Balsara in 1988. The deal is estimated to be around INR 1,000 crore.

Manifest has reached out to both Madison and Wondrlab for comment and will update the story if and when a response is received.