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?
Too many Ad agency for TV media but Online Ad agencies are very less. India Online media has started getting global look and this deals proves it
Can anyone share the contact details of WPP Digital in India.. Where is their office?
congrats to the entire team at quasar
At what valuation has Quasar been sold? Will it be merged with other WPP companies in India or will be working independent? NEED SOME REAL NEWS…
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congratulations to the quasar team!