LONDON (Alliance News) - Martin Sorrell's S4 Capital PLC confirmed Monday it is in "advanced discussions" to buy US advertising firm MightyHive Inc.
It would be the second acquisition for the recently-listed advertising company.
On November 9, the Financial Times reported that S4 was in talks to buy programmatic advertising firm MightyHive for between USD140 million and USD200 million, citing "people briefed on the plans."
S4 noted there can be no certainty as to whether the transaction will occur and further announcements will be made "as appropriate".
Shares in S4 Capital were up 3.3% Monday at 115.20 pence each.
S4 Capital was established by its Executive Chairman Martin Sorrell earlier this year after he left FTSE 100-listed advertising firm WPP PLC, of which he was a founder & chief executive, amid unspecified misconduct allegations.
In July, S4 outbid WPP for Dutch advertising firm MediaMonks Multimedia Holding BV. MediaMonks operates from offices in Shanghai and Singapore, and plans to expand into China, India, Australia, and Japan.
In November, with the release of its third quarter results, the S4 said it was planning significant expansion.
At the time, Sorrell said: "We are already planning significant expansion of the group's services in digital media planning and buying and content and geographically, particularly in the US and Asia Pacific."
WPP (WPP)
S4 Cap. (SFOR)
