Japanese advertising major Dentsu Inc through its Indian unit Dentsu Aegis Network Ltd has signed an agreement to buy 90 per cent stake in WAT Media Pvt Ltd which operates a full-service digital agency in the country under the brand WATConsult, as per a press release. The deal amount remained undisclosed.
Dentsu will buy the remaining stake to make it a wholly owned unit eventually. Post that it will become a part of Isobar, one of Dentsu’s global network brands which will be referred to as 'WATConsult – Linked by Isobar.'
Mumbai-based firm also has offices in Delhi, Bangalore and Kolkata.
London-headquartered Dentsu Aegis Network provides branding, media and marketing services. It offers digital creative execution, content creation, media planning, sports and entertainment marketing, search engine optimisation (SEO) strategy, near field communications (NFC) and marketing analytics.
A wholly owned subsidiary of Dentsu Inc, the Dentsu India Group comprises three standalone full-service advertising agencies – Dentsu Communications, Dentsu Marcom and Dentsu Creative Impact – as well as Dentsu Media and Dentsu Digital.
Tokyo-based Dentsu Inc has a presence in 24 countries across five continents.
In 2012, it acquired 51 per cent stake in Mumbai-based advertising agency Taproot India Communication Pvt Ltd for an undisclosed sum.
(Edited by Joby Puthuparampil Johnson)