WPP announced Monday that its wholly-owned global media investment group, GroupM, has agreed to acquire a majority stake in The Glitch, a digitally-led creative agency.
The Glitch was founded in 2009 and employs around 200 people in Mumbai and Delhi.
According to a provided statement, that The Glitch’s full-service capabilities include digital, video and content strategy, interactive design technology, ecommerce, branding and media planning. Clients include Unilever, Netflix, OYO Rooms, Shutterstock, Tinder and others in the entertainment, beauty and FMCG sectors.
The Glitch’s revenues for the year ending 31 March 2017 were around INR 214 million with gross assets of around INR 175 million as at the same date.
We’re told that the acquisition will “continue GroupM’s growth strategy in one of the world’s most dynamic economies, and offer clients access to a wide portfolio of leading-edge digital marketing services and holistic content solutions.”
