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It wouldn’t be the Cannes advertising festival without some big news to create a buzz among the global industry execs gathered there. This year it’s WPP Group creating the stir: WPP announced today it is acquiring one of the industry’s last large digital independents, AKQA.
Terms of the deal, subject to regulatory approval, were not disclosed. AKQA has previously been courted by both WPP and Dentsu. In 2007, Connecticut-based private equity concern General Atlantic took a majority stake in the San Frankcisco-based agency.
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