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WPP Digital acquires 75 % stake in Quasar Media

Indiantelevision.com Team

(19 November 2007 7:30 pm)

MUMBAI: WPP Digital has acquired 75 per cent stake in the India based online media agency Quasar Media.

Quasar Media is a subsidiary of Smile Interactive Technology Group which specialises in digital marketing and web solutions.

WPP Digital CEO Mark Read said, " Our investment continues WPP Digital's strategy of developing WPP's services in the faster growing digital media. In India, we believe that digital media will be USD 560 million representing almost 7 percent of total advertising expenditure by 2009. For Quasar, WPP Digital's resources, technology and experience will support its continued growth, both in services and geography."

Smile Interactive CEO and founder Harish Bahl said, "Our faith in StudioSmile's incubation programme to grow the digital industry in India is again proved by our second joint venture, within 3 months, for the group post-Tyroo and Yahoo. Smile is underway of launching more incubation in the fields of auto, mobile, healthcare and retail."

Added Smile Interactive chief business officer and co-founder Manish Vij, "We are happy to align with WPP Digital to further strengthen the leadership of Quasar Media in the country and its growth in Asia Pacific countries. Quasar will grow its world-class services in Internet and Mobile marketing and e-business solutions to its current and growing client base in India, Singapore and Hong Kong with the help of WPP Digital's worldwide network of companies. It will also play an important role as a global outsourcing centre of excellence for WPP digital."

Quasar Media provides services in digital media, creative, e-business solution, search marketing and optimization, mobile marketing, e-commerce, social media, e-CRM, and others. StudioSmile in the last eight years has invested in the digital industry with startups like Quasar, Tyroo and Zoomtra.com.

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