O&M to acquire majority stake in PennyWise Solutions

Ogilvy & Mather today announced that it has agreed to acquire a majority stake in PennyWise Solutions Pvt. Ltd., one of India's digital technology and production companies.

[caption id="attachment_1103753" align="alignleft" width="380"] Screengrab of PennyWise Solutions website.[/caption]

This Hyderabad-based company was established by current CEO, Anand Morzaria, in 2003. It 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.

Piyush Pandey, Executive Chairman & 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."

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PennyWise will serve as the digital technology and production centre of excellence for Ogilvy & Mather in India. It will power digital delivery for the agency's India network as well as the O&M APAC network.

"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," added Kunal Jeswani, Chief Digital Officer, Ogilvy India.

[caption id="attachment_1103755" align="alignleft" width="380"] Anand Morzaria, CEO, PennyWise Solutions[/caption]

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."