Marketing communications major, Ogilvy & Mather (O&M),
a subsidiary of
), recently inked a deal with PennyWise Solutions Pvt. Ltd.
(PennyWise) to acquire a majority stake in the latter.
The strategic deal is likely to aid Ogilvy & Mather in
combining its digital skills and services with the technical and
production skills of PennyWise, to offer effective solutions to
its clients. Moreover, the deal will not only strengthen Ogilvy
& Mather's presence globally including Europe and North
America, but will help the company to acquire major clients like
Vodafone India and Johnson & Johnson as well.
Based in India, PennyWise is a prominent digital technology
and production company. The company provides a wide array of
digital services, including custom application development,
mobile application development, SEO, digital listening, online
consumer response management systems, data analytics and business
intelligence as well as network support and infrastructure
The deal marks an important milestone in WPP's efforts to
build its presence in fast-growing markets and sectors.
WPP offers a host of advertising and marketing services
including advertising and media investment management; consumer
insight; public relations and public affairs; direct and digital
promotion as well as relationship marketing. The primary focus of
the company is to grow its revenues and gross margin at a faster
rate than the industry average. Going forward, WPP expects to
achieve a leading position in new markets and new media as well
as depth in consumer insight.
WPP currently carries a Zacks Rank #2 (Buy). Some other stocks
worth considering include
MDC Partners Inc.
Corporate Executive Board Co.
). All of these have the same Zacks Rank as WPP.
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