WPP PLC GroupM to acquire a majority stake in The Glitch (5190E)
February 12 2018 - 4:00AM
UK Regulatory
TIDMWPP
RNS Number : 5190E
WPP PLC
12 February 2018
FOR IMMEDIATE RELEASE 12 February 2018
WPP PLC ("WPP")
GroupM agrees to acquire majority stake in The Glitch in
India
WPP announces that its wholly-owned global media investment
group, GroupM, has agreed to acquire a majority stake in The
Glitch, a digitally-led creative agency.
The Glitch was founded in 2009 and employs around 200 people in
Mumbai and Delhi. The Glitch's full-service capabilities include
digital, video and content strategy, interactive design technology,
ecommerce, branding and media planning. Clients include Unilever,
Netflix, OYO Rooms, Shutterstock, Tinder and others in the
entertainment, beauty and FMCG sectors.
The Glitch's revenues for the year ending 31 March 2017 were
around INR 214 million with gross assets of around INR 175 million
as at the same date.
The acquisition will continue GroupM's growth strategy in one of
the world's most dynamic economies, and offer clients access to a
wide portfolio of leading-edge digital marketing services and
holistic content solutions.
The investment will also continue WPP's strategy of focusing on
three key areas that differentiate the Group's offering to clients:
technology, data and content. WPP's digital assets include
companies such as Acceleration (marketing technology consultancy),
Cognifide (content management technology), Conexance (data
cooperative), Deeplocal (innovation studio founded as a spin-off
from Carnegie Mellon University), Marketplace Ignition
(Amazon-focused ecommerce), Medialets (mobile ROI measurement),
Salmon (e-commerce), The Cocktail (digital consultancy) and Hogarth
(digital production technology). WPP also has investments in a
number of innovative technology services companies such as Globant
and Mutual Mobile, as well as ad technology companies such as
AppNexus, Celtra (creative management platform), comScore (data
investment management), mySupermarket, Percolate, ScrollMotion and
Within Unlimited (VR/AR).
The Group has invested in digital content companies like All Def
Digital, Fullscreen, Gimlet, Indigenous Media, Imagina (a content
rights and media company based in Spain), MRC, Mic, Mitú,
Refinery29, Uproxx Media Group and VICE. WPP's roster of wholly
owned digital agencies include AKQA, Blue State Digital, Essence,
F.biz, Mirum, POSSIBLE, Triad Retail Media, VML and Wunderman.
WPP's digital revenues were over US$7.5 billion in 2016,
representing 39% of the Group's total revenues of US$19.4 billion.
WPP has set a target of 40-45% of revenue to be derived from
digital in the next four to five years. Digital represented 41% of
WPP's revenues as of June 30, 2017. Collectively WPP companies in
India generate revenues of over US$0.6 billion and employ over
19,000 people.
Contact:
Juliana Yeh, WPP +852 22803790
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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