JWT Singapore has announced that it will acquire majority stake in Mumbai-based Hungama Digital Services, the digital and promotions marketing division of Hungama Digital Media Entertainment. A new entity, Hungama Digital Services Private Limited, will operate as a full service digital agency specialising in digital marketing and social media solutions.
Neeraj Roy, managing director and chief executive officer, Hungama Digital Media Entertainment, says, "With JWT, we are now part of the largest advertising network in the world. Hungama Digital Services is the coming together of two exceptional teams in a globally relevant market."
"Digital is our next new frontier. The idea of the partnership is to build a digital offering for our clients so that we can live up to being a 'single source' partner across all their marketing solutions needs. What will be most effective in the future is a new set of talented, digital high-end specialists who will add new skills and capabilities to what JWT already offers to its clients," says Colvyn Harris, CEO, JWT India in an official communiqué.
Hungama's existing team of 120 people, who will join Hungama Digital Services, will continue to drive the agency, including servicing old and new clients, and offer creative and promo marketing services, viral marketing campaigns, social media marketing and mobile marketing, applications, managing websites and video services.
Commenting on the acquisition, Michael Maedel, president, JWT Asia Pacific, says, "We have greatly expanded our digital capability across the region, and we are not standing still. JWT will continue to hire new digital experts and explore possible acquisitions across the region this year."
JWT Asia Pacific has moved aggressively into the digital space over the past year, expanding both organically and through acquisitions. Recently, XM Asia, a JWT company, agreed to acquire Magnivate, Indonesia's leading digital agency.First Published : September 25, 2014 04:04 PM