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.
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.