IPG in talks for sale of digital marketing agency R/GA to TCS - report [Seeking Alpha]
Interpublic Group of Companies, Inc. (The) (IPG)
Last interpublic group of companies, inc. (the) earnings: 4/22 07:00 am
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Source: Seeking Alpha
The negotiations are ongoing, and R/GA could fetch ~$300M; however, the deal may still not follow through as both parties have not agreed on valuation, according to the report that cites people familiar with the matter. R/GA has worked for brands like Samsung, Verizon, Google's Android, Coca-Cola, and Nike. R/GA became a part of IPG ( IPG ) in 2001, when it acquired R/GA's parent, True North Communications. R/GA witnessed executive turnover and client losses, and its revenue dropped by roughly 20% to ~$200M last year. The talks with TCS are likely to help IPG ( IPG ) streamline its business amidst stiff competition on Madison Avenue. IPG ( IPG ) and TCS are also in discussions to build a larger strategic partnership for shared clients in the AI or data space. With this move, TCS joins other consulting firms like Accenture ( ACN ) and Deloitte that have enhanced marketing capabilities by acquiring firms that specialize in digital transformation, experiential marketing, creativ
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IPG
Earnings
- 7/24/24 - In-Line
IPG
Sec Filings
- 7/25/24 - Form 8-K
- 7/24/24 - Form 10-Q
- 7/24/24 - Form 8-K
- IPG's page on the SEC website