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Sir Martin Sorrell has forecast an increase in ad spend this year after acquiring two American agencies for about $ 200 million.
S4 Capital, which the tycoon founded in 2018, is buying Decoded Advertising and Metric Theory with a combination of cash and stocks.
The US-based companies posted gross profits of approximately $ 70 million last year, an increase of 50 percent over the previous year.
Sir Martin, 75, said the growth of the two agencies he owns would accelerate as they could attract new clients outside of their home market. « They have no global revenue and we will expand their base, » he said.
Shares in S4 Capital rose 2p, or 0. 4 percent to 502 pence after the company said that
S4 Capital, Martin Sorrell, Marketing, Media, MediaMonks
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Ref: https://www.thetimes.co.uk
