General Atlantic to sell digital ad agency AKQA to Sorrell’s WPP


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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