Media and communication conglomerate WPP said on Monday that it has acquired a majority stake in Indian event management company Encompass for an undisclosed amount.
Encompass would be aligned with JWT, WPP's Indian advertising operations. The event management firm's founders Roshan Abbas and Sukrit Singh will remain in their current positions of Managing Director and CEO respectively to ensure a smooth transition, WPP said in a statement said.
“JWT has been working with Encompass on several client engagements and this transaction is a natural extension of our established relationship,” JWT President Michael Maedel said in the statement.
“The founders, Roshan Abbas and Sukrit Singh, have been integral to the phenomenal success of Encompass and will remain in their current positions of leadership to ensure continued success and client satisfaction,” the statement said.
Encompass was founded in 1996 and now employs over 240 people across India. It services clients like HSBC, Nokia, GSK, Pepsi, Accenture, Hewlett Packard, Microsoft and Ford among others.
Source: Economic Times