Advertising and media conglomerate WPP has bought a majority stake in Mumbai based Hungama Digital Services for an undisclosed sum.
Hungama Digital Services is part of Hungama Digital Entertainment and specialises in marketing strategies, web design, digital marketing, search engine marketing, social media optimisation and communications strategy.
The agency employs 110 people and clients include Mahindra & Mahindra, Bacardi, Godfrey Philips, Britannia Industries, Tupperware India and Hindustan Unilever, WPP explained.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Commenting on the acquisition WPP said: "This investment continues WPP's strategy of developing its networks in fast-growing and important markets and sectors. India remains one of the group's fastest growth markets, with revenues of approximately $500m including associates."
WPP already has four creative agencies and four media agencies in India.
The acquisition follows hot on the heels of May's expansion into France when it snapped up digital data and campaign technology marketing group Predictys.
CJ
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
