WPP has announced that its wholly owned operating company GroupM has agreed to acquire, subject to regulatory approval, a majority stake in Interactive Television Pvt Ltd, an out-of-home marketing agency.
Founded in 1996, Interactive TV is based in New Delhi, with offices in Chennai, Kolkata, Bangalore and Hyderabad. Its portfolio of clients include Maruti, Microsoft, Coca-Cola, ITC and Bharti Airtel.
The focus of GroupM is the intelligent application of physical and intellectual scale to benefit trading, innovation, and new communication services, to bring unfair competitive advantage to their clients and companies.
Based in London, WPP is one of the communications services groups of a group of six advertising holding companies; the others being Omnicom, Interpublic, Publicis, Dentsu and Havas. This investment in Interactive Television Private Limited continues on the wavelength of WPP's strategy of developing its networks in fast growing markets and sectors.
At the time of filing the story, none of the officials from GroupM or Interactive TV were available for comments.