NEW DELHI: WPP Digital has bolstered its Asian presence with the purchase of a 75% majority stake in Indian digital agency Quasar Media - previously controlled by Smile Interactive.
The financial details of the deal have not been disclosed but Quasar reported revenues for the year ending March 31 of 103.6 million rupees ($2.6m; €1.7m; £1.3m). Its clients include Microsoft and Motorola.
Comments WPP Digital ceo Mark Read: "In India, we believe digital media will be $560m representing almost 7% of total advertising expenditure by 2009."
Data sourced from The Times of India; additional content by WARC staff