(Alliance News) -Â S4 Capital PLC on Monday said it has agreed to issue 2.3 million shares as initial consideration for its acquisition of website and app designer Zemoga.
London-based S4 Capital is an advertising agency started and led by Martin Sorrell, the former chief executive of WPP PLC. Zemoga, founded in 2002, has offices in Los Angeles, New York and Wilton, Connecticut, and operations in Colombia.
The deal, unveiled on Friday, will see Zemoga added to S4 Capital's Media.Monks unit to expand its digital capability.
Shares in S4 Capital were down 2.8% at 789.00 pence in London early Monday. At this price, the share issue would be worth around GBP18.3 million.
By Lucy Heming;Â lucyheming@alliancenews.com
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S4 Cap. (SFOR)