WPP to buy remaining stake in India's Madhouse

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

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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.