Mumbai: Leading advertising agency JWT on Wednesday said it will acquire a majority stake in digital services agency Hungama Digital Services for an undisclosed amount. (Agencies)
The exact shareholding pattern of the company was not revealed.
According to terms of the agreement, Hungama's activations arm, Hungama Promo Marketing, will become a part of Hungama Digital Services and will provide an engagement platform linked to online and offline deliveries, the companies said in a joint statement issued here.
"India is at the cusp of a digital revolution with the advent of 500-plus million consumers getting online in the next 3-4 years.
From augmented reality to developing applications for connected devices, Hungama Digital Services has been at the forefront of digital technology," Hungama Digital Media Entertainment Managing Director and Chief Executive Officer Neeraj Roy said.
"With the James Walter Thompson (JWT) partnership, we hope to offer integrated digital services to our clients and prepare brands to connect, interact and now transact with their customers," Roy said.
On the acquisition, JWT Asia Pacific president Michael Maedel said, "We have greatly expanded our digital capability across the region, and we are not standing still. JWT will continue to hire new digital experts and explore possible acquisitions across the region this year."
The New York-based JWT has more than 200 offices in over 90 countries.
Mumbai: Leading advertising agency JWT on Wednesday said it will acquire a majority stake in digital services agency Hungama Digital Services for an undisclosed amount.