WPP to acquire Quasar Media in India

19 November 2007

Mumbai: Global advertising giant WPP will acquire Indian digital media and e-business solutions company Quasar Media, to broaden its global portfolio of digital assets, WPP chief executive Martin Sorrell said.

Sorrell disclosed the transaction, which he said would be formally announced on Monday, during a presentation at the Morgan Stanley technology, media and telecoms conference.

He, however, did not disclose the value of the transaction. 

"It is going to be a WPP digital acquisition in India. There is no financing required of any significance in terms of the context of the group," he said on the fringes of the conference.

Mumbai-based Quasar is part of the Smile Interactive Group and focuses on online media, search and mobile marketing.

Quasar Media has taken consumer interaction a step ahead with the launch of its ''Quasar Talk'' - a blog marketing platform that enables consumers to directly interact with the brand.