WPP has announced that its wholly-owned operating company, Grey, is acquiring a majority stake in RC&M, one of India’s largest rural communications and marketing services providers. RC&M marks WPP’s 12th acquisition in India in the last nine years.
This acquisition marks a further step in WPP’s strategy of developing its networks in fast-growth markets and sectors. In India, WPP companies (including associates) generate revenues of $500 million and employ almost 13,000 people. In the Asia Pacific region, WPP companies (including associates) generate revenues of $5 billion and employ more than 47,000 people. WPP recently raised its targets from 35-40 per cent for each of fast-growth markets and new media to at least 40-45 per cent over the next five years.
RC&M is a pioneer in experiential marketing in India, delivering integrated activation solutions, encompassing creative designing to production and implementation. Founded in 1990, RC&M is headquartered in Delhi, with offices in Mumbai and Bangalore.
RC&M’s unaudited revenues for the year ending March 31, 2013 stood at approximately Rs 360 million. The company employs more than 320 people and services clients in the automotive, industrial automation, FMCG and durable sectors.