WPP Buys AKQA At A $540 Million Valuation

Posted Jun 20, 2012

Global advertising company WPP plc has acquired interactive marketing company AKQA, an 11 year old agency that has 1,160 employees worldwide with a 2012 revenue forecast of $230 million.  AKQA will be integrated into a new group called WPP Ventures, which will be a Silicon Valley based company to explore digital investment opportunities for WPP.  AKQA chairman Tom Bedecarré will be president of the new group.  The acquisition price of AKQA is at a valuation of $540 million.  General Atlantic owns 80% of AKQA and employees own the other 20%.