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GroupM becomes majority stakeholder in MediaCom India
WPP's global media investment arm, GroupM, has increased its holding in MediaCom India to become a majority stakeholder, which allows MediaCom India to access and tap into the global reach and infrastructure of GroupM.
MediaCom India, founded in 2007, employs around 170 people in India, with offices in Gurgaon, Bangalore and Mumbai as well as a representative office in Chennai. As a content and connection agency, it specialises in media buying and planning across channels. Its 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. Its revenues were around 700m INR in 2016, with assets of 90m INR as of the same date.
This acquisition continues WPP's strategy of investing in fast growth markets, new media and digital. Collectively, WPP companies (including associates) in India generate revenues estimated to be over $600m in 2016 and employ 15,000 people.
