General Atlantic Prepares to Exit AKQA with Sale to WPP
June 22, 2012
General Atlantic has reached an agreement to sell the award-winning digital advertising agency AKQA to WPP for $540 million. Following the transaction, which is subject to regulatory approval, AKQA will continue to operate as an independent brand and be utilized to improve WPP’s digital presence. Established in 2001 through a merger of four discrete agencies, AKQA was acquired by General Atlantic through a secondary buyout in 2007 for an estimated $250 million.