Dentsu Aegis Network acquires WATConsult
Mumbai: Tokyo-based advertising and public relations firm Dentsu Inc. said on Friday that its global business headquarters Dentsu Aegis Network Ltd has reached an agreement with the principal shareholder of Mumbai-based WATConsult, a digital agency, to acquire a 90% stake in the company, which will ultimately be increased in steps to 100%.
Post-acquisition, WATConsult will become part of Isobar, one of the Dentsu Group’s global network brands, and will be referred to as WATConsult – Linked by Isobar, the firm said in a statement.
“The addition of WATConsult to the Group and strengthened collaboration with other Group companies will accelerate the Group’s growth strategy in India. The impact of this transaction on Dentsu’s consolidated financial results for the fiscal year ending 31 March 2015 is expected to be minimal,” the firm said.
WATConsult, founded in 2007 as a social media agency, has developed into a digital agency offering services such as digital creative, digital media planning and buying, development of campaigns that utilize social and digital media, production of digital media (Web and mobile) applications and digital video, and online reputation management.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.