WPP buys 50% stake in Quadra for Rs 2.5 crore

The Martin Sorrel headed global communications group WPP has acquired a 50 per cent stake in the marketing consultancy Quadra Advisory for Rs 2.5 crore. With this acquisition, Quadra Advisory has become a wholly owned subsidiary of WPP.

Suhel Seth, chief executive officer (CEO) of advertising agency Equus Red Cell and Indu Sen, wife of the late management guru and Quadra's promoter Shunu Sen, have stepped down from the company's board. Seth and Sen each had a 25 per cent stake in the New Delhi-based research consultancy firm.

According to Ranjan Kapur, chairman of WPP in India, Sukanya Kripalu will continue to head Quadra Advisory. After the buyout, there may not be any immediate changes in the management personnel.

Sources close to Quadra said that the company is likely to be merged with Indian Market Research Bureau (IMRB), a firm owned by Kantar Media Group.WPP owns the London-based Kantar Media. In India, Kantar is represented by IMRB and Henley Centre.

The consolidation is in line with WPP's worldwide consolidation drive. Kantar Media Group is a research, information and software company with operations in 30 countries.

It is learnt that Quadra Advisory is likely to be renamed Quadra-Kantar, though this could not be immediately confirmed.

It is understood that Thomas Puliyel, CEO of Kantar India, will oversee Quadra's operations. Puliyel could not be reached for comments.

WPP, India's largest integrated communications group, has in its fold advertising agency J Walter Thompson, Ogilvy & Mather, Bates India, Equus, Rediffusion DY&R, among others.