afaqs!

JWT acquires majority stake in Social Wavelength

By afaqs! news bureau , afaqs!, New Delhi | In Advertising | March 27, 2014
  • 333
Founded in 2009, Social Wavelength is headquartered in Mumbai, with offices in Delhi and Chennai.

WPP Group has announced that its wholly-owned operating company, JWT, the global marketing communications agency, has acquired a majority stake in Social Wavelength, one of the leading social media agencies in India.

JWT

Social Wavelength

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 nearly US$500 million and employ almost 13,000 people.

Founded in 2009, Social Wavelength is headquartered in Mumbai, with offices in Delhi and Chennai. The company employs over 170 people and key clients include Franklin Templeton, Apollo Hospitals, Idea Cellular and GE India Industrial.

Social Wavelength's revenues for the year ended 31 March 2013 were Rs 9.15 crore, with gross assets at the same date of Rs 5.92 crore. Social Wavelength marks WPP's fifth acquisition in India in the last four years.

  • 333
Search Tags