WPP to acquire Indian social media agency

27th Mar 2014 10:10

WPP's wholly-owned operating company, JWT, is set to acquire a majority stake in Social Wavelength, an Indian social media agency.Social Wavelength, which employs more than 170 people, marks the group's fifth acquisition in India in the last four years.In the year ended March 31st 2013, the business generated revenue of around £0.92m. "This acquisition marks a further step in WPP's strategy of developing its networks in fast-growth markets and sectors," it said. The acquisition is the group's fourth this week. JMT is a WPP global marketing communications agency. NR