WPP Buys PE-Backed Digital Marketer AKQA Holdings

Law360, New York (June 20, 2012, 2:21 PM EDT) -- U.K.-based global advertising agency WPP PLC has bought a majority stake in California-based digital marketing company AKQA Holdings Inc. from private equity backer General Atlantic LLC, WPP and AKQA said Wednesday.

WPP, owned by Martin Sorrell, said it had purchased a majority stake AKQA from General Atlantic, which fully divested its share of AKQA, and also secured an undisclosed amount of remaining company shares owned by senior management. Neither the buyer nor the target disclosed financial details of the deal.

The deal reportedly values AKQA at...
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