WPP PLC WPP increases investments in India (6044W)
August 02 2018 - 3:00AM
UK Regulatory
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RNS Number : 6044W
WPP PLC
02 August 2018
FOR IMMEDIATE RELEASE 2 August 2018
WPP PLC ("WPP")
WPP increases investments in India
WPP today 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.
Contact:
Juliana Yeh, WPP +852 22803790
END
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