19th Nov 2007 08:00
WPP Group PLC19 November 2007 FOR IMMEDIATE RELEASE 19 November 2007 WPP GROUP PLC ("WPP") WPP Digital acquires majority stake in leading Indian digital marketing/web solutions agency, Quasar WPP Digital announces that it has acquired a 75% stake in the share capital ofQuasar Media Private Limited ("Quasar"), one of India's leading independentdigital marketing and web solutions agencies. Founded in 2005, Quasar offers clients a fully comprehensive range of specialistdigital skills including digital media, creative, ebusiness solutions, searchmarketing and optimization, mobile marketing, ecommerce, social media and eCRMamong others. Based in New Delhi, with offices in Mumbai and Bangalore, Quasar employs 73people. Clients include LG Electronics, MakeMyTrip.com, Microsoft, Monster.com,VISA, Motorola, Zapak and Airtel. Quasar will continue to be managed by itsfounding team, led by CEO Harish Bahl and Manish Vij, Chief Business Officer. Quasar's revenues for the year ended 31 March 2007 were INR 103.6 million withgross assets at the same date of INR 149.5 million. This investment continues WPP's strategy of developing its services in fastgrowing markets and sectors and strengthening its capabilities in digital media.Digital advertising is expected to become a US$560 million industry in India by2009 representing almost 7% share of the total advertising market in thecountry. WPP Digital is the digital investment arm of WPP. Its remit is to act as acatalyst for change within the Group in the digital media space. Its prime goalis to champion digital technologies and new media innovations and to stimulate,support and enhance existing Group companies activities in this area. Contact:Feona McEwan, WPP T +44 (0)20 7408 2204www.wpp.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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