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?
Related StoriesPosted In: Advertising, Money, M&A & Venture Capital, Mergers & Acquisitions, quasar, wpp
Newsletter
Comments (6)
Nov 18, 2007 6:11 AM
congratulations to the quasar team!
Nov 18, 2007 11:24 AM
http://www.carlosrigueira.com/deutsch/index.php
Deutschkurse
Nov 19, 2007 2:07 AM
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…
Nov 20, 2007 10:12 AM
congrats to the entire team at quasar
Dec 25, 2007 8:28 AM
Can anyone share the contact details of WPP Digital in India.. Where is their office?
Jun 25, 2008 9:22 PM
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