JWT agrees to acquire stake in Converge Technologies in Pakistan
23 March 2012
Michael Maedel, President, JWT Asia Pacific
KARACHI, March 20, 2012 — JWT has agreed to acquire a minority stake in Converge Technologies (Pvt) Limited, one of the fastest growing digital agencies in Pakistan, subject to regulatory approvals.
Founded in 2007, Converge is based in Karachi and employs 90 people. Clients include Unilever, PTCL, Mobilink, HP, Bank Alfalah, Nokia and Pakistan State Oil.
Converge offers a wide spectrum of services, including digital media strategy, social media planning and management, platform, content, technology enablement, game and app development, mobility campaign planning and execution.
The acquisition of this stake will further strengthen JWT’s dominant position in Pakistan, where it ranks among the largest creative ad agencies.
“This partnership will put both Converge and JWT Pakistan in a position to leverage each other’s strengths and scale up our integrated offering for our clients,” said Mansoor Karim Shaikh, CEO of JWT Pakistan.
JWT Asia Pacific has moved aggressively into the digital space over the last year, expanding both organically and through acquisitions. JWT signed an agreement in 2011 to acquire A4A, one China’s most dynamic digital and social media marketing companies; and on March 12 announced that XM Asia, a JWT company, acquired Magnivate, Indonesia’s leading digital agency.
“As one of the “Next 11” growth economies, Pakistan is very strategic market for JWT,” said Michael Maedel, President of JWT Asia Pacific. “This deal adds yet more momentum to our regional digital growth strategy. We will continue to add depth and breadth to our Asian digital offerings over the coming months.”
About JWT APAC
JWT opened their first offices in Asia Pacific in 1929. JWT APAC, headquartered in Singapore, has more than 3,000 employees spread across 18 countries.
Not only are we recognized as one of the largest and most experienced agencies in APAC, but also one of the most creative. In 2011, we captured Mainland China’s first Cannes Grand Prix Lion and first Grand LIA at the London International Awards. We were also named the number 3 Network Agency of the Year at Spikes Asia. Our long history of firsts continues with Lo Sheung Yan, China Chairman and Northeast Asia ECD, being appointed as Cannes Lions first ever Jury President from China.
In addition to working with JWT’s prestigious multinational clients, JWT APAC works with some of Asia’s largest brands including Haier, Indosat, Bharti Airtel and Korea Ginseng & Tobacco.
JWT is the world’s best-known marketing communications brand. Headquartered in New York, JWT is a true global network with more than 200 offices in over 90 countries employing nearly 10,000 marketing professionals.
JWT consistently ranks among the top agency networks in the world and continues its dominant presence in the industry by staying on the leading edge—from producing the first-ever TV commercial in 1939 to developing award-winning branded content for brands such as Smirnoff, Macy’s, Ford and HSBC.
JWT’s pioneering spirit enables the agency to forge deep relationships with clients including Bayer, Bloomberg, Cadbury, Diageo, DTC, Ford, HSBC, Johnson & Johnson, Kellogg’s, Kimberly-Clark, Kraft, Nestlé, Nokia, Rolex, Royal Caribbean, Schick, Shell, Unilever, Vodafone and many others. JWT’s parent company is WPP (NASDAQ: WPPGY).
Asia Pacific Director of Corporate Communications
+65 6880-5134 firstname.lastname@example.org