WPP is strengthening its network in Asia with the acquisition of Bangalore-based consultancy Ray & Keshavan Design Associates.
The group has taken a majority stake in the consultancy that specialises in brand identity, packaging, print and interactive design.
Ray & Keshavan’s clients include Airtel, Hindustan Lever, Infosys, Kotak Mahindra Bank and Wipro. The consultancy was founded in 1989 and employs 33 people. Its revenues for the year ended 31 March were 58.2m Indian rupees (£686 000).
The group is also strengthening its hold in China with Ogilvy & Mather Worldwide taking a majority share of Internet marketing consultancy Beijing Century Harmony Advertising.
Located in Beijing, with a branch in Shanghai, the five-year-old company has clients including Yahoo China, ICBC and Li Ning.
The acquisition forms part of a long-term regional strategy to grow the group’s network in mainland China. WPP employs 7000 people in China and claims it is one of its fastest growing markets.
WPP’s Wunderman has also agreed to acquire two marketing services agencies based in South Korea – SRP Corporation and ComHaus Korea. Both are located in Seoul.
India, China, Brazil and Russia were identified by Goldman Sachs as key drivers of future economic growth, according to a global financial report in 2003.