WPP Acquires Digital Pioneer AKQA
WPP has agreed to acquire AKQA, considered a pioneer in the digital agency space and one of the last big independent digital agencies. The holding company said Wednesday that the deal
was subject to regulatory approval.
The Dublin-based holding company also announced the start-up of a new Silicon Valley-based firm, WPP Ventures, which will explore new digital investment opportunities.
AKQA chairman Tom Bedecarré will lead the new start-up, WPP confirmed. Bedecarré will remain in his AKQA role as well. The agency will continue to operate as a stand-alone entity under WPP, led by Bedecarré and agency founder and CEO Ajaz Ahmed, the holding company said.
The shop, whose work has been recognized with 19 agency of the year awards and numerous other accolades, was founded in 2001. It provides an array of digital services, including social media, mobile, interactive experiences, gaming and content creation.
Commenting on the deal Sir Martin Sorrell, CEO, WPP stated that the holding company has “admired [the agency’s] creativity and technological skills for a long time, along with their outstandingly effective and award-winning work for clients.”
Clients include Delta, Diageo, EDF, GAP, Google, Microsoft Xbox, Nike, Target, Unilever and Virgin Money, among others.
Terms weren’t disclosed, but WPP said the agency had gross assets of $282 million at the end of last year with revenues of $189 million. Revenues at the agency are expected to grow nearly 22% this year to $230 million.
The shop employs 1,160 worldwide with offices in the U.S., Europe and Asia.
“With increased resources and access to new geographies, our partnership with WPP will fuel the next level of … opportunity, delivering innovation and creativity at scale,” AKQA founder Ahmed stated.
Recent MediaDailyNews Articles
-
Multichannel Video Cos. Register Subscriber Loss, Satellite TV Gains May 22, 10:55 a.m.
For the first time in a year-long period, the biggest multichannel video companies have witnessed a ... -
DPAA Taps Enhanced TV Ad Vet Frey As New Chief May 22, 8:08 a.m.
Barry Frey, a long-time cable and interactive television executive who helped pioneer the field of “enhanced ... -
How Social Is Transforming TV May 21, 5:46 p.m.
Live from OMMA Video, Viacom Media Networks is unveiling its findings from “When Networks Network: TV ... -
Chicago Awards O'Hare Digital Signage Biz To Clear Channel Airports May 21, 4:30 p.m.
The Chicago City Council has awarded Clear Channel Airports a five-year contract, with the option for ... -
(Updated) NDTV Challenges WPP, Tries To Revive Lawsuit In NY May 21, 4:26 p.m.
(Editor's Note: The original version of this story, including the headline failed to note that NDTV's ... -
Horizon Taps Gambelli As Chief Investment Officer May 21, 4:18 p.m.
Former NBC senior advertising sales executive Marianne Gambelli has landed at Horizon Media as its executive ... -
Ad Council Raises Autism Awareness May 21, 3:41 p.m.
The Ad Council has partnered with Autism Speaks and two agencies, BBDONew York and LatinWorks, to ... -
CBS Scores Big Victory In 18-49 Demo May 21, 3:11 p.m.
Just two days before the finish of the TV season, CBS claims a major victory among ... -
TiVo Boosts Revs, Data Efforts May 21, 2:54 p.m.
TiVo made gains for its first-quarter revenue results with higher cable operator subscriptions.The time-shifting and technology ... -
Updated: Out-Of-Home Trading Platform Integrates With Mediaocean, Posterscope Backs Move May 21, 8:07 a.m.
(Editor's Note: Posterscope denies it is backing ADstruc. A Clarification has been published here.) While ...
Be the first to comment on "WPP Acquires Digital Pioneer AKQA"
Leave a Comment