General Atlantic (GA) has agreed to sell digital advertising agency AKQA to WPP Group, the global marketing giant spearheaded by Martin Sorrell, in a deal will net the global growth investor a cool $540m.
AKQA, which was set up in 2001 through a merger of four agencies, will continue to operate as an independent brand and be used to bolster WPP’s digital presence.
GA first invested in the business through a $250m secondary buyout in 2007.
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