WPP Buys AKQA
The agency opened a mobile division in 2006, led by Dan Rosen, who was picked up by WPP in March as CEO, EMEA, of Joule, its mobile division.
“We are thrilled to welcome AKQA’s unique team of technological innovators and entrepreneurs to WPP,” says Sir Martin Sorrell, CEO, WPP. “We have admired their creativity and technological skills for a long, time along with their outstandingly effective and award-winning work for clients. We are looking forward to working with Ajaz and Tom to broaden their offer and our own, both geographically and functionally.”
AKQA will operate as an independent stand-alone brand within WPP, and will be led by founder and CEO Ajaz Ahmed and chairman Tom Bedecarré, with Bedecarré also taking the position of president at WPP Ventures, a new Silicon Valley-based company which will explore digital investment opportunities for WPP.
At the end of 2011, AKQA had gross assets of $282m, and forecasts an estimated $230m in revenues for 2012.