Campaign India Team
Sep 12, 2013

O&M to acquire majority stake in digital technology production company PennyWise

Hyderabad-based company has 140 people; clients include Vodafone, Johnson & Johnson besides WPP agencies

O&M to acquire majority stake in digital technology production company PennyWise

Ogilvy & Mather has announced that it will acquire majority stake in PennyWise Solutions, a Hyderabad-based digital technology and production company.

PennyWise was established by current CEO Anand Morzaria in 2003, and has grown from a six-member start up to employing over 140 people. Its digital services includes custom application development, mobile application development, SEO, digital listening, online consumer response management systems, data analytics and business intelligence, network support and infrastructure management.

Piyush Pandey, executive chairman and creative director, Ogilvy South Asia, said, “Creative is the soul of Ogilvy. And digital is today’s opportunity for creative expression. Digital is a critical growth pillar for Ogilvy India. 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.”

PennyWise will serve as the digital technology and production centre for Ogilvy network in India and the Apac region, informed an official statement.

Kunal Jeswani, chief digital officer, Ogilvy India, said, “Ogilvy is one of the largest and most awarded digital agencies in India. This is not about scale. This is about excellence in every aspect of digital. Ogilvy represents excellence in digital strategy and ideation. PennyWise represents excellence in digital technology and production. They are exactly the kind of partner we were looking for.”

Anand Morzaria, CEO, PennyWise Solutions, said, “PennyWise has always been at the forefront of digital and new media technology. We are excited to join hands with Ogilvy& Mather, a name synonymous with excellence in marketing communications. This partnership will help us combine our deep and proven expertise in developing digital and new media technology solutions with Ogilvy’s own offerings for clients across India and other Apac markets. Together, we will be able to meet and exceed the demands of our highly valued and expanding customer base.”

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

Source:
Campaign India