Sorrell strikes $150m deal for programmatic ad firm

sorrell nSir Martin Sorrell’s new venture S4 Capital has secured its second acquisition with the purchase of programmatic ad firm MightyHive as it continues its quest to build a new media business incorporating data, content and technology.
Sorrell said the deal, which values the business at $150m, marks an important second strategic step for his new company, adding: “The peanut has now morphed into a coconut, and is growing and ripening.”
The move comes five months after Sorrell bought MediaMonks, a digital agency with headquarters in Amsterdam, as his first major purchase under S4.
Founded in 2012, San Francisco-based MightyHive claims to be one of the fastest-growing programmatic buyers in the world; it has offices in London, Stockholm, Singapore, New York and Sydney.
The two businesses will now work together to provide S4 Capital’s clients with “end-to-end, fully integrated and seamless capabilities in purely digital marketing”.
Sorrell said: “S4 Capital intends to provide global, multi-national, regional, local clients and influencer-driven millennial brands with new age/new era digital marketing services concentrated in three key areas initially – the development of a global digital content platform; first-party data fuelling both digital media planning and creative ideas; and, finally, digital media buying.”
As part of the deal, MightyHive chief executive Peter Kim and chief operating officer Christopher Martin will become directors of S4.

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