WPP to buy remaining stake in India's Madhouse

WPP on Thursday said its GroupM investment operation was buying the remaining 50% in Indian mobile marketing agency Madhouse for an undisclosed sum.

It added that it was also selling its stakes in India joint ventures with Rediffusion.

“Mobile marketing and media consumption is exploding with the growing access to devices, driven by a lower cost of devices and data plans,” Wpp said in a statement.

“This acquisition will provide GroupM clients enhanced access to innovative mobile solutions, ad products and targeting technology.”

WPP companies Sudler, Wunderman and Y&R, which now operate as joint venture agencies with Rediffusion, will be developed as wholly-owned agencies, it added.