WPP Buys Indian Mobile Agency Madhouse
WPP has bought Indian mobile marketing agency Madhouse, upping its investment from 50% as the holding group eyes further opportunity in India.
According to WPP, the decision has come as a result of opportunity in both India generally and specifically the mobile space, as the business cited explosive numbers on mobile usage as costs decrease.
WPP said the acquisition will mean that GroupM clients will now have access to the mobile and targeting technology that Madhouse owns.
CVL Srinivas, country manager for WPP in India, said: “India is a key growth region for us and we have a well-defined road map and vision for what we would like to achieve here. WPP is home to some of the best marketing talent in this country and our plan is to steer our agencies to stay ahead of the curve – in terms of both market and client needs, by providing the best-in-class offerings.”
WPP has been relatively active with M&A activity in India this year, its most major acquisition being that of digital creative agency The Glitch in February this year.
WPP also announced that Sudler, Wunderman and Y&R, which now operate as joint venture agencies with Rediffusion, will be developed as wholly-owned agencies, with WPP selling its stakes in the current Rediffusion joint ventures. WPP added that there would be no change to Wunderman’s existing India businesses.
Credit: The Drum