WPP is to acquire the assets of global digital agency AKQA in a major move seemingly designed to match progress made by its arch rival Publicis Groupe.
WPP is valuing AKQA at $540 million (£343 million) and will be buying out the vast majority of shares in cash, with a small proportion of shares being allocated to an earnout arrangement. In particular, founder Ajaz Ahmed and chief executive Tom Bedecarré will be deferring some of the their share realisations for several years.
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