TBWA has acquired Magnon Group, one of India's largest and most comprehensive digital agencies.
The company employs nearly 150 professionals in Mumbai and New Delhi.
According to the arrangement, Bajpai will continue as chief executive officer of Magnon.
Shiv Sethuraman, chief executive officer, TBWA India, says, "The acquisition was the first step. We had been looking for a partner for over a year which has the right size and right client list. The next step is to integrate the Magnon solution into TBWA."
He adds that with support from Magnon Solutions, TBWA will be able to offer cutting edge digital solutions for clients in Asia, Europe and other areas.
Magnon will become a part of TBWA India with immediate effect. Magnon Solutions will join TBWA's global Digital Arts Network (DAN) and the digital outsourcing company, Magnon International, will become part of E-Graphics and an accelerator for DAN's production offering.
Bajpai, founder and chief executive officer, Magnon, says, "TBWA's global reach and excellence will provide Magnon with the right platform towards becoming a market-leading digital agency in India and the region."
Keith Smith, president, international, TBWA Worldwide, says, "We are delighted to join forces with the Magnon Group."
Sethuraman adds that digital is now becoming a need for every campaign. Also, the medium is maturing and is no longer restricted to Facebook Likes and YouTube hits. It is now going to the next level.
TBWA has 274 offices in 100 countries and more than 11,000 employees worldwide. It works with some of the major clients across the globe such as ABSOLUT, Adidas, Apple, Energizer, GSK, Henkel, Infiniti, McDonald's, Michelin, Nissan, Pernod Ricard, Pfizer, Roche, Standard Chartered Bank, Singapore Airlines and Visa.
In 2012, TBWA was recognised by Advertising Age as the Best International Network of the Decade.
Magnon Solutions started its operations a decade ago and was featured in Forbes magazine's special supplement, 'New Heroes of India Inc.' in April, 2012. It serves clients across five continents.