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NEW YORK Interpublic Group has acquired Translation Consultation + Brand Imaging, a three-year-old shop led by former Interscope Records executive Steve Stoute.
IPG is believed to have paid $10-15 million in cash for the New York consultancy. Translation has estimated revenue of $5-10 million and employs about 45 staffers, according to sources.
The deal, which had been expected [Adweek, July 16], gives IPG a branded entertainment specialist that shares a major client in General Motors and has ties to the music industry and urban culture.
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