Sir Martin Sorrell’s S4 Capital has confirmed its acquisition of programmatic platform MightyHive in an emailed statement to address the speculations regarding the acquisition, and confirmed the “potential transaction”.
The statement added that the acquisition would be in line with the company’s stated strategy of creating a new era, new media solution embracing data, content and technology in an always-on environment for global, multi-national, regional and local clients and for millennial-driven digital brands.
Headquartered in San Francisco, MightyHive has offices in Singapore, New York, London, Sydney, Toronto and Stockhom. The consultancy partners with global brands and agencies for marketing results, providing consulting and services in the areas of media operations and training, data strategy, and analytics.
Apart from this acquisition, Sorrell and his team dished out around €300 million for MediaMonks in cash and shares back in July. The digital production company MediaMonks currently has offices in Singapore, Shanghai, Dubai, Europe and US. This marks Sorrell’s first acquisition since resigning from WPP.
Over the past few days, headlines have been swirling around of the rising tension between Sorrell and WPP lawyers being brought in by WPP to warn Sorrell that he was likely to be breaching his confidentiality agreement. Ultimately this could lead to Sorrell losing shares worth millions of pounds
S4 Capital also appointed former GroupM’s Michel de Rijk as APAC CEO. He stepped down from his global role in GroupM last month. He will also be focusing on the digital content, media planning and buying, as well as first-party data.