Ogilvy & Mather, a global advertising, marketing and public relations agency, has agreed to acquire a majority stake in PennyWise Solutions, a city- based digital technology and production company. However, financial details were not disclosed by both the companies.
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 said in a release today. "PennyWise are, quite simply, the best digital technology and production professionals in the business. This is a strategic investment," Piyush Pandey, Executive Chairman and Creative Director, Ogilvy South Asia said in a statement.
"It will combine the digital skills and services of both companies to deliver solutions for our clients across India and APAC," he said. PennyWise will serve as the digital technology and production centre of excellence for Ogilvy & Mather in India, the statement said.
The current client portfolio of PennyWise includes Vodafone India, Johnson & Johnson and WPP Agencies including Ogilvy & Mather, Soho Square and a host of others. PennyWise offers a wide range of digital services including Custom Application Development, Mobile Application Development, SEO, Digital Listening, Online Consumer Response Management Systems, Data Analytics and Business Intelligence, Network Support and Infrastructure Management Services.