Martin Sorrell's S4 Capital To Buy Silicon Valley's Firewood For $150 Mln
The marketing services mogul Martin Sorrell's S4 Capital Plc. (SFOR.L) agreed to buy Silicon Valley's largest digital agency, Firewood, for $150 million.
S4 Capital, which Martin launched last year following his departure from WPP Group, said that Firewood would be integrated into its MediaMonks division to broaden its offering in areas such as paid search, display and video campaigns.
Founded in 2010 and employing more than 300 employees in the UK, Mexico and the US, Firewood specialises in digital creative campaigns for clients including Facebook, Google, LinkedIn, Salesforce and Vmware.
S4 Capital has proposed to raise gross proceeds of 100 million pounds through a placing to fund the Firewood deal.
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