David Jones, CEO of the world’s fifth largest ad agency network Euro RSCG Worldwide, could be looking at small and medium-sized acquisitions globally as well as in India and China. [via Mint]

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Global advertising group Publicis Groupe has been looking for possible digital acquisitions in India since January. The WPP Group is also on the lookout for agencies to acquire in India.

“Major digital companies have been bought up by big advertising groups,” said Euro RSCG’s Jones. “I believe that these targets were likely to have been dramatically overpaid for. We do not need to play catch-up. We would rather build on what we have or alternatively target small and medium scale companies.”