WPP increases investments in India
WPP has announced investments in its business in India, in line with its long-term growth objectives in this important market.
As part of this, GroupM, the world’s leading media investment group, will move to full ownership of the mobile marketing agency Madhouse, from its current 50 percent interest.
Madhouse has offices in Mumbai, Delhi and Bangalore and its clients include some of India’s leading brands. Mobile marketing and media consumption is exploding with the growing access to devices, driven by a lower cost of devices and data plans.
This acquisition will provide GroupM clients enhanced access to innovative mobile solutions, ad products and targeting technology.
In addition, WPP companies 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.
There will be no change to Wunderman's existing India businesses. 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 in India will continue to cater to the market’s growing demand for integrated and innovative marketing solutions, through strengthening its presence in the areas of data, technology, content and creativity.