Sir Martin Sorrell’s advertising giant WPP has acquired San-Fransisco based digital agency Akqa for an undisclosed amount.
The deal has given an enterprise value to the agency of up to $540m (£348m).
“We are thrilled to welcome Akqa’s unique team of technological innovators and entrepreneurs to WPP. We have admired their creativity and technological skills for a long time along with their outstandingly effective and award-winning work for clients, ” said Sir Martin Sorrell.
UK entrepreneur Ajaz Ahmed founded Akqa in Farringdon in 1995 and private-equity firm General Atlantic bought an 80 per cent stake in 2007. Since then, the agency’s shifted headquarters to San Fransisco.
Akqa’s clients include EDF, GAP, Google, Microsoft Xbox and Nike among others. The agency has 1160 employees working across its eight offices including London, New York, Washington DC, Shanghai, Berlin and Amsterdam. Revenues for 2011 were $189m.
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