The Wall Street Journal (paid sub. req.) is reporting that San Francisco interactive-ad firm AKQA has sold a majority stake to private equity firm General Atlantic LLC.
While there’s nothing new about an agency acccepting large wads of cash for a partial or full buy out, there is a unique twist to this transaction.
AKQA Chief Executive Tom Bedecarre said, “The best solution was to work with someone who is not in our business but who is willing to be a long-term partner and help us grow.”
[emphasis added]
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