WPP to Take Full Ownership of Madhouse as Part of India Investment Boost
August 02 2018 - 4:53AM
Dow Jones News
By Adria Calatayud
WPP PLC (WPP.LN) said Thursday that its GroupM brand will take
full ownership of Indian mobile-marketing agency Madhouse as part
of broader plans to increase the group's investments in the
country.
The London-based advertising giant said the deal will provide
GroupM clients with enhanced access to mobile solutions,
advertising products and targeting technology. Madhouse--in which
GroupM currently has a 50% stake--has offices in Mumbai, Delhi as
well as Bangalore and its clients include some of India's leading
brands, WPP said.
WPP said its Sudler, Wunderman and Y&R brands, which now
operate as joint-venture agencies with Rediffusion, will be
developed as wholly owned agencies. The company will sell its
stakes in the current joint ventures, it said.
WPP didn't disclose the value of the increased investments in
India.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
August 02, 2018 04:38 ET (08:38 GMT)
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