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June 20, 2012 03:57 pm GMT
WPP today has announced a major development in its strategy to shift a bigger part of its business to digital: it is buying AKQA, one of the biggest -- and independent -- digital agencies around. WPP says that AKQA will continue to operate as an independent agency, and its current chairman will also head up a new investment arm for WPP, WPP Ventures, to back more digital marketing startups.The financial terms of the deal were not disclosed, but AKQA had assets totaling $282 million as of December 31, 2011, and projects revenues of $282 million for 2012, some $100m more than its $189 million in sales in 2011. It employs 1,160 people across offices in SanFrancisco, New York, Washington DC, London, Paris, Amsterdam, Berlin and Shanghai.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/nuiKydPz4zk/
WPP Doubles Down On Digital, Buys Leading Agency AKQA
WPP today has announced a major development in its strategy to shift a bigger part of its business to digital: it is buying AKQA, one of the biggest -- and independent -- digital agencies around. WPP says that AKQA will continue to operate as an independent agency, and its current chairman will also head up a new investment arm for WPP, WPP Ventures, to back more digital marketing startups.The financial terms of the deal were not disclosed, but AKQA had assets totaling $282 million as of December 31, 2011, and projects revenues of $282 million for 2012, some $100m more than its $189 million in sales in 2011. It employs 1,160 people across offices in SanFrancisco, New York, Washington DC, London, Paris, Amsterdam, Berlin and Shanghai.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/nuiKydPz4zk/
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