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WPP purchased the remaining 26 per cent stake in MediaCom Communications Pvt Ltd in India from Sam Balsara and Lara Balsara Vajifdar, on Friday.
The initial agreement between WPP and Sam Balsara and his family dates back to 2008.
Sam Balsara said: “This innovative partnership, we invested in nearly 15 years ago, has been a great success for all parties. It has established MediaCom in India as a fast-growing and highly respected agency by advertisers.”
Nick Lawson, Global CEO, of MediaCom, said: “It has been a pleasure working with Sam Balsara and Lara Balsara as we grew this successful business in India. We will build on that legacy to deliver the agency model our clients want for the future - founded on brilliant strategy and brand-building capabilities, with pioneering digital expertise running throughout.”
On 26 April 2022, WPP announced that global agencies, MediaCom and Essence, would merge to form EssenceMediacom.
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