The Indian arm of Japanese advertising and public relations company, Dentsu Aegis Network India has acquired around 75% stake in WATConsult at a valuation of anywhere between INR 180 Cr. and INR 200 Cr.
WATConsult is a full service digital and social media agency launched by Rajiv Dingra in 2006. The company offers services like digital creative, digital media planning and buying, social media marketing, web and mobile development, online reputation management and digital creative video services.
Speaking on the development, Nick Waters, CEO Dentsu Aegis Network Asia Pacific said, “The acquisition of WATConsult marks another significant step for our group in India. We view India as a priority market and will continue to seek scaled and quality investment opportunities here.”
According to deal terms, Rajiv Dingra will continue as CEO of WATConsult – Linked by Isobar, reporting to Ashish Bhasin, Chairman and CEO of Dentsu Aegis Network South Asia. He will also join the Digital Council of Dentsu Aegis Network India.
His key management team, including Nipun Kapur, COO of WATConsult and Heeru Dingra, CFO of WATConsult, will also continue in their respective roles.
WATConsult employs more than 160 people across Mumbai, Delhi, Bangalore and Kolkata and has annual revenues of nearly INR 30 Cr. Its clients include Godrej, Tata, Bajaj, Mahindra, SAP and Nikon.