WPP’s global media investment arm GroupM has agreed to increase its holding in MediaCom India, the media buying and planning agency, to become a majority stakeholder. The move allows MediaCom India to access and tap into the global reach and infrastructure of GroupM.
This acquisition is part of WPP's strategy to invest in fast growth markets, new media and digital, the company said in a press release.
Clients include Dell, Edelweiss, Future Group, Makemytrip.com, Mars, Pedigree, Piaggio, P&G, Royal Enfield, SAB Miller, Tata Docomo, Urban Ladder, Wellspun and Wrigley’s.MediaCom India. Revenues were around INR 700 million in 2016 with assets of INR 90 million as of the same date.