Dentsu Aegis Network India has acquired WATConsult, a digital and social media agency, reports the Economic Times. According to the report, Dentsu has bought upwards of 75% stake in WATConsult at a valuation of anywhere between Rs 180-200 crore.
Founded in 2006 by Rajiv Dingra, WATConsult has offices in Mumbai, Bangalore, Delhi and Kolkata and employs about 150 people. The company specializes in services like creative design, digital media planning and buying, social media marketing, web and mobile development, online reputation management and digital video services. It also counts Nikon, SAP PVR Picture, Mahindra and Godrej as its clients.
Rajiv Dingra, CEO at WATConsult, will continue his role at the company and will report directly to Ashish Bhasin, Chairman and CEO South Asia Dentsu Aegis Network. He will also join the Digital Council that Dentsu formed in India last year with the heads of its three existing digital agencies — Web Chutney CEO and Co-founder Sidharth Rao, Isobar India MD Shamsuddin Jasani and iProspectCommunicate2 MD Vivek Bhargava.
In May 2013, Dentsu India had acquired 80% stake in the digital advertising agency and consulting firm WebChutney and had mentioned that Webchutney will become a wholly owned subsidiary of Dentsu India by 2017.
The digital companies of Dentsu contribute nearly 30% of its overall revenues in India.
