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Havas Acquires McKinney

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Havas Advertising, as expected, announced its acquisition of McKinney & Silver from MarchFirst.

On Thursday Paris-based Havas said that McKinney & Silver, Raleigh, N.C., will operate as part of its Boston-based Arnold worldwide network.

Terms of the deal were not disclosed, but sources estimated price at $20 million to $25 million.

McKinney, which employs about 150 people, will retain its name and current management team, including CEO Don Maurer.

Joining Arnold's expanding network "will strengthen our brand offering and fuel our aggressive plans to move to the next level," Maurer said in a statement.

Arnold's flagship client is Volkswagen of America; McKinney handles VW sister brand Audi.