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Ogilvy buys majority stake in Indian digital production firm PennyWise

WPP ad agency Ogilvy has acquired a majority stake in digital technology and production company PennyWise Solutions.

The Hyderabad-based firm will serve as a production hub for Ogilvy across the region as well as in India.

PennyWise, which will now change its name to Ogilvy PennyWise, was founded by current CEO Anand Morzaria in 2003. It has grown from a start-up of six people to 140 in a decade.

Ogilvy APAC’s COO Kent Wertime said: “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,” he said.

Morzaria added: “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.”

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