Blog Post

WPP Buying Indian Online Ad Agency Quasar

WPP, the global ad agency holding company, is buying online media agency Quasar Media. This puts to rest the speculation that has been on for some time about WPP’s M&A goals in India. WPP CEO Martin Sorrell announced this on Friday, speaking at the Morgan Stanley technology, media and telecoms conference.

Mumbai-based Quasar is part of the Smile Interactive Group and focuses on online media, search and mobile marketing…it has clients such as Microsoft, (NSDQ: MSFT) and Britain’s Aviva, and works with partners such as Yahoo (NSDQ: YHOO) and others. Meanwhile, rival Publicis is also on the lookout in India.

Nikhil adds: This is the second big deal for the Smile Interactive group: they’d first divested a stake between 30 and 50 percent in their advertising network Tyroo to Yahoo. These have been fairly early stage deals, and the group continues to launch/incubate more properties. For lucrative exits?

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