PRZOOM - /newswire/ -
Tokyo, Japan, 2015/01/30 - Dentsu, Inc. announced that its global business headquarters Dentsu Aegis Network Ltd has reached an agreement with the principal shareholder of WATConsult - Dentsu.co.jp. Tokyo: 4324
Dentsu, Inc. (President & CEO: Tadashi Ishii; Head Office: Tokyo; Capital: 74,609.81 million yen) announced today that its global business headquarters Dentsu Aegis Network Ltd. has reached an agreement with the principal shareholder of WATConsult (Head Office: Mumbai), a full-service digital agency in India, to acquire a 90% stake in the company which will ultimately be increased in steps to 100%.
Founded in 2007, WATConsult has evolved from being one of India’s leading social media agencies to a full-service digital agency, offering its more than 70 national and global clients a diverse range of digital communication services including digital creative, digital media planning and buying, development of campaigns that utilize social and digital media, production of digital media (Web and mobile) applications and digital video, and online reputation management.
WATConsult has won numerous awards such as the “Best Viral Marketing Campaign” IDMA award and the “Red Herring Top 100 Asia” award for the fastest growing technology startup. An entrepreneur in India’s digital media industry, founder & CEO Rajiv Dingra is a recognized
thought leader in the social media space. He is also a prominent blogger on social media-related issues.
Post-acquisition, WATConsult will become part of Isobar, one of the Dentsu Group’s global network brands, and will be referred to as “WATConsult Linked by Isobar.” The addition of WATConsult to the Group and strengthened collaboration with other Group companies will accelerate the Group’s growth strategy in India.
The impact of this transaction on Dentsu’s consolidated financial results for the fiscal year ending March 31, 2015 is expected to be minimal.
Profile of WATConsult
Company Name: WAT Media Pvt Ltd (Brand name: WATConsult)
Location: Mumbai, India (Offices also in Delhi, Bangalore and Kolkata)
Year of Establishment: 2007
Shareholding Ratio*: Dentsu Aegis Network 90%, WATConsult management 10%, •After acquisition has been completed (Dentsu Aegis Network’s ratio will ultimately be increased to 100%)
Gross Profit: INR 164,087, 000 (year ended March 2014)
Key Management Personnel: Rajiv Dingra (Founder & CEO)
Number of Employees: 160
Line of Business: Full-service digital communication services including social