Sir Martin Sorrell ’s S4 Capital has acquired independent US agency Firewood for $ 150 m . The deal is part of Sorrell 's strategy to create a purely - digital global advertising firm and capitalise on growth in the sector . S4 used a placing to raise £ 100 m ( $ 150 m ) to re - fund the initial acquisition , as well as future acquisitions , while Sorrell said he is seeking firms that provide first - party data on consumer habits .
Sir Martin Sorrell’s S4 Capital has acquired independent US agency Firewood for $150m. The deal is part of Sorrell's strategy to create a purely-digital global advertising firm and capitalise on growth in the sector. S4 used a placing to raise £100m ($122m) to part-fund the Firewood acquisition, as well as future purchases, while Sorrell said he is seeking firms that own first-party data on consumer habits.