More, trust sorrell8 Jan 2020 08:49
The advertising tycoon Sir Martin Sorrell will on Wednesday unveil the eleventh acquisition by his new holding company in little more than 18 months with the purchase of a Mexican agency whose clients include Netflix and Uber.
Sky News understands that S4 Capital, the London-listed vehicle run by Sir Martin, will announce that it is buying Mexico City-based Circus Marketing.
The deal will add roughly $38m in projected revenues and $20m in gross profit, as well as another 350 employees, to S4.
It will also take S4 into Spain for the first time, as well as strengthening its presence in a number of Latin American countries.
In keeping with the way S4 has funded its takeover spree to date, half the undisclosed purchase price will be in cash and the remainder in stock.