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Dentsu Aegis Network pics up majority stake in WATConsult
MUMBAI: Dentsu Aegis Network has announced the acquisition of WATConsult, one of India’s leading social and digital media agencies, with over 160 professionals in Mumbai, Delhi, Bangalore and Kolkata.
WATConsult will become part of Isobar, Dentsu Aegis Network’s global digital marketing agency and will be referred to as “WATConsult – Linked by Isobar”.
Dentsu Aegis Network Asia Pacific CEO Nick Waters, said, “The acquisition of WATConsult marks another significant step for our group in India. This is a high quality award winning market leader specialising in one of the fastest growing and critical segments of the market. Alongside Isobar, iProspect, and WebChutney we have created the largest and highest quality digital services capability in India. We view India as a priority market and will continue to seek scaled and quality investment opportunities here.”
Founded in 2007 and led by its CEO Rajiv Dingr, WATConsult boasts of being one of India’s most awarded social media agencies, with over 48 ,wards received in 2014 alone.It has evolved from being a social media agency to a full service digital agency.
As part of the deal, Dingra will continue as CEO of WATConsult – Linked by Isobar, reporting to Dentsu Aegis Network chairman and CEO South Asia Ashish Bhasin. His key management team, including COO Nipun Kapur and CFO Heeru Dingra, will also continue in their respective roles.
Dingra will also join the Digital Council of Dentsu Aegis Network India, alongside the CEO’s of Isobar, iProspect and WebChutney.
WATConsult also provides its client base with creative and technology services across mobile, digital and video. Other specialist areas include an in-house analytics capability with dashboards and tools for social and digital media. Clients include the Godrej Group, Nikon, Tata Chemicals, Bestseller Group, Bajaj Allianz and more than 70 other national and global brands.
Dentsu Aegis Network chairman and CEO South Asia Ashish Bhasin said, “Having WATConsult, a leader in social media, as a member of our family will further enhance our digital offering to our clients and support our growth in the market. WATConsult, will join iProspect, Isobar and Webchutney in making our digital offering the most comprehensive in India.”
Dingra added, “We are delighted to join hands with Dentsu Aegis Network, and our entire team are looking forward to taking WATConsult – Linked by Isobar to even greater heights. We are confident that by becoming a part of a digital focused network like Dentsu Aegis Network we will gain a competitive advantage in the fast consolidating Indian market. As an agency we see huge growth opportunity in digital advertising, particularly social media, digital video and mobile, and we are geared to capitalising on it.”
Post acquisition, digital specialists at Dentsu Aegis Network will now exceed 600 professionals, making it the only network in India offering end-to end comprehensive digital services in this scale, the company said.