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JWT to acquire stake in Pakistan-based digital agency

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MUMBAI: JWT has agreed to acquire a minority stake in Pakistan-based digital agency, Converge Technologies, as part of its strategy to add depth and breadth to its Asian digital offerings.

The global agency has not announced how much stake it will hold and at what price. The acquisition is subject to regulatory approvals.

Founded in 2007, Converge Technologies is based in Karachi and handles clients like Unilever, PTCL, Mobilink, HP, Bank Alfalah, Nokia and Pakistan State Oil.

JWT Pakistan CEO Mansoor Karim Shaikh said, "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."

Converge offers services including digital media strategy, social media planning and management, platform, content, technology enablement, game and app development, mobility campaign planning and execution.

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, a digital and social media marketing company in China. On 12 March XM Asia, a JWT company, acquired Indonesia-based digital agency Magnivate.

"As one of the ?Next 11? growth economies, Pakistan is a very strategic market for JWT. 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 month," JWT Asia Pacific President Michael Maedel said.

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