Advertising firm Dentsu Aegis Network India has acquired WATConsult, a digital and social media agency, reports the Economic Times. Dentsu has bought upwards of 75% stake in WATConsult at a valuation of anywhere between Rs 180 crore and Rs 200 crore, the report added citing top officials.
Founded in 2006, WATConsult has offices in Mumbai, Bangalore, Delhi and Kolkata and employs about 150 people. The company specializes in services like creative design, digital media planning and buying, social media marketing, web and mobile development, online reputation management and digital video services. It also counts Nikon, SAP PVR Picture, Mahindra and Godrej as its clients.
Rajiv Dingra, chief executive officer at WATConsult, will continue his role at the company and will report directly to Ashish Bhasin, chairman and CEO South Asia Dentsu Aegis Network. Post the acquisition, the company will be called “WATConsult – Linked by Isobar” (quite a mouthful, if you ask me).
Earlier in January 2014, Dentsu India Group has appointed Simi Sabhaney as the new CEO of its advertising and communications agency Dentsu Communications.
In May 2013, Dentsu India had acquired 80% stake in the digital advertising agency and consulting firm WebChutney and had mentioned that Webchutney will become a wholly owned subsidiary of Dentsu India by 2017. It had also acquired 51% stake in Mumbai-based Indian advertising agency Taproot India, following which Taproot India had become a part of the Dentsu Network but was operated independently.
In July 2012, Dentsu had acquired London headquartered media buying house, Aegis Group, for approximately GBP 3.16 billion ($4.89 billion approx), as part of a cash deal, following which Aegis Group had become Dentsu’s wholly owned subsidiary.
Rival agency Publicis has also been on a buying spree in India and has acquired nine companies since mid-2012 with the recent ones being Sapient , Law & Kenneth, Beehive communications.