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O&M Acquires Majority Stake in PennyWise

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Purchase of India’s leading digital technology and production companies

O&M Acquires Majority Stake in PennyWise

 

 

Ogilvy & Mather announced it has agreed to acquire a majority stake in PennyWise Solutions Pvt. Ltd., one of India’s leading digital technology and production companies. The deal advances Ogilvy & Mather’s digital strategy in Asia Pacific, aligning the company’s existing excellence in digital strategy and creative with the technical and production strengths of PennyWise. It will power best practice digital delivery for the agency’s India network as well as the O&M APAC network. 

 

PennyWise develops and implements bespoke digital solutions that harness customer loyalty and drive sales. The Hyderabad-based company was established by current CEO Anand Morzaria in 2003, and has grown from a six member start-up to become India’s market leader in digital delivery, employing more than 140 people.

 

PennyWise has a global customer base, covering Europe and North America, as well as India.  The current client portfolio includes Vodafone India, Johnson & Johnson and WPP Agencies including Ogilvy & Mather, Soho Square and a host of others.


Kent Wertime, Chief Operating Officer, Ogilvy & Mather Asia Pacific: “PennyWise joining Ogilvy further boosts our position as an agency poised for the future. As our clients’ needs continue to rapidly evolve, we’re better prepared than ever to help them across the spectrum of digital marketing, e-commerce solutions, mobile, and social marketing needs – both in terms of creativity and technology.”

 

Piyush Pandey, Executive Chairman & Creative Director, Ogilvy & Mather South Asia: “Creative is the soul of Ogilvy. And digital is today’s opportunity for creative expression. As we build digital
services, talent and thinking across the organisation, we also need partners with different skills. PennyWise are, quite simply, the best digital technology and production professionals in the business. This is a strategic investment. It will combine the digital skills and services of both companies to deliver solutions for our clients across India and APAC.”

 

Anand Morzaria, CEO, PennyWise Solutions: “PennyWise has always been at the forefront of digital and new media technology but our expanding customer base is also looking for strategic insight and creative flair. Nobody enshrines those qualities more than Ogilvy, and our combined offer represents a step change in the digital services on offer to clients.” 

 

The newly acquired operation will be known as Ogilvy PennyWise. Its Hyderabad base, management and staff structure will remain unchanged and will continue to work with local clients in India, in addition to regional and global clients within the Ogilvy & Mather network.

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lbbonline.com, Thu, 12 Sep 2013 07:25:42 GMT