WPP Becomes Majority Shareholder in MediaCom India
- by Radu Cotarcea
WPP announced on January 24 that its global media investment arm GroupM has agreed to increase its holding in MediaCom India to become a majority stakeholder. "The move allows MediaCom India to access and tap into the global reach and infrastructure of GroupM," informs the WPP press release.
MediaCom India was founded in 2007 and employs around 170 people in India, with offices in Gurgaon, Bangalore, and Mumbai as well as a representative office in Chennai. As a Content + Connection agency, MediaCom India specialises in media buying and planning across channels. Key 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. According to WPP, MediaCom India's revenues were around INR 700 million in 2016 with assets of INR 90 million as of the same date.