LONDON (Reuters) - Martin Sorrell’s new company S4 Capital (SFOR.L) said on Monday it was in advanced talks to buy MightyHive, a San Francisco-based programmatic advertising group that partners with major brands.
Sorrell, the founder of WPP (WPP.L), launched S4 Capital earlier this year after he left the world’s biggest advertising group over a complaint of personal misconduct, which he denied.
In July he pipped WPP in the race to buy Dutch digital agency MediaMonks for around 300 million euros. He plans to build a new business offering content, digital analytics and technology to help clients reach customers in a rapidly changing media environment.
MightyHive uses algorithms to buy and sell advertising space online in real time.
Reporting by Kate Holton; Editing by Kirsten Donovan