Advertising giant WPP Plc.’s media investment arm GroupM is set to acquire a majority stake in Mumbai-based creative agency Glitch Media Pvt. Ltd
The company said in a press note that Glitch will continue to operate as an independent brand following the acquisition. However, it did not disclose the deal value.
According to the company, the acquisition is in line with WPP’s strategy to focus on technology, data and content, which differentiates the group’s offering to clients.
“With The Glitch, we found a partner that brings exciting creative and content skills that can leverage our unique assets to create effective solutions for our clients,” said CVL Srinivas, country manager, WPP India, and CEO, GroupM, South Asia.
Incorporated in 2009, Glitch Media, which operates under The Glitch brand, offers digital, video and content strategy, interactive design technology, ecommerce, branding and media planning. It employs around 200 people in its Mumbai and Delhi offices.
Its clients include Unilever, Netflix, OYO Rooms, Shutterstock and Tinder, among others in the entertainment, beauty and fast-moving consumer goods sectors.
“We will be able to use their strong expertise in data and analytics to help craft more insightful and effective campaigns for brands and help close the loop with a superior understanding of content and creative strategy to serve today’s economy,” said Rohit Raj, co-founder and creative chief, The Glitch.
Glitch Media’s total income stood at Rs 31.8 crore and profit after tax was at Rs 5 crore in 2016-17, according to VCCEdge, the data research platform of News Corp VCCircle.
In January 2017, GroupM had agreed to acquire a majority stake in MediaCom India from Sam Balsara.
The agencies under the GroupM India umbrella include Maxus, MEC, MediaCom, Mindshare, Motivator, mSix and Essence.
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