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Sorrell's new S4 bolsters digital ad skills with MightyHive deal

Reuters  |  LONDON 

By Paul SandleLONDON (Reuters) - Martin Sorrell's S4 Capital has agreed to buy San Francisco-based programmatic ad firm MightyHive for an enterprise value of $150 million, funded by the issue of new shares worth 74 million pounds ($94 million).Former WPP boss Sorrell said the deal marked an important second strategic step for his new company. "The peanut has now morphed into a coconut, and is growing and ripening," he said with a typical flourish on Tuesday.MightyHive uses algorithms to buy and sell advertising space online in real time.Sorrell launched S4 Capital earlier this year shortly ...

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First Published: Tue, December 04 2018. 18:41 IST