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WPP Digital takes majority stake in Quasar Media

Announcement  |  Corporate 

Chennai, November 19, 2007: WPP Digital announces that it has acquired a 75% stake in the share capital of Quasar Media Private Limited ("Quasar"), a subsidiary of Smile Interactive Technology Group specialising in digital marketing and web solutions, and will partner with Smile in the development of the Quasar business.
"Our faith in StudioSmile's incubation program to grow the digital industry in India is again proved by our second joint venture, within 3 months, for the group post-Tyroo and Yahoo. It is a good feel that two of our incubations have formed joint ventures with world leaders in their respective fields. Smile is underway of launching more incubation in the fields of Auto, Mobile, Healthcare and Retail," says Harish Bahl, CEO and Founder, Smile Interactive. StudioSmile in the last 8 years has invested in the digital industry with successful startups like Quasar, Tyroo and Zoomtra.com.
Founded in 2005, Quasar Media is the largest digital media and e-business services company in the country based in New Delhi, with offices in Mumbai and Bangalore. Its clients include MakeMyTrip, Monster, Microsoft, Motorola, LG, Zapak and VISA.
"We are happy to align with WPP Digital to further strengthen the leadership of Quasar Media in the country and its growth in Asia Pacific countries. Quasar will grow its world-class services in Internet and Mobile marketing and e-business solutions to its current and growing client base in India, Singapore and Hong Kong with the help of WPP Digital's worldwide network of companies. It will also play an important role as a global outsourcing centre of excellence for WPP digital," says Manish Vij, Chief Business Officer and Co-Founder, Smile Interactive.
Quasar provides services in digital media, creative, e-business solution, search marketing and optimization, mobile marketing, e-commerce, Social media, e-CRM, and others. With this arrangement Quasar will still be managed by its founding team, led by Harish Bahl and Manish Vij.
"We were struck by Quasar's leadership in the digital media industry in India and its potential to grow its share of the digital media market. Our investment continues WPP Digital's strategy of developing WPP's services in the faster growing digital media. In India, we believe that digital media will be USD 560 million representing almost 7% of total advertising expenditure by 2009. For Quasar, WPP Digital's resources, technology and experience will support its continued growth, both in services and geography," said Mark Read, CEO of WPP Digital.
About WPP Digital
WPP Digital is the digital investment arm of WPP, the global communications services company. Its remit is to act as a catalyst for change within the Group in the digital media space. Its prime goal is to champion digital technologies and new media innovations and to stimulate, support and enhance existing Group company activities in this area. Activities include identifying acquisitions/partnerships/investments, funding start-ups, establishing training programs and instigating cross-Group knowledge sharing forums. For more information, please visit: www.wpp.com
About Smile Interactive Technology Group
Smile Interactive Technology Group started in 1999 with StudioSmile is one of the largest digital services & technology group in the country. The Incubation program of StudioSmile is one of the unique ways of growing and increasing entrepreneurship for the digital industry in India. It invites entrepreneurs and professionals to chase their dream projects by incubating them with experience, technology infrastructure, seed fund and management out of a world class facility in Gurgaon. Its other incubations are Tyroo.com, India's leading internet ad network country, Zoomtra.com, India's first travel meta search and Zumtra, Online travel technology providers. For more information please visit www.sitg.in
About Quasar Media
Quasar Media, part of Smile Interactive Group is one of the leading digital media services companies in India. It has a strong base of media services and technology. Committed to drive the digital media industry in the country it has a capability to give 360 degree services to client in the area of Digital Advertising. Digital advertising is expected to be a USD 560 million industry by 2009 with over 7% market share of the total advertising. For more information please visit www.quasar.co.in

First Published: Mon, November 19 2007. 00:00 IST
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