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AKQA sells majority stake to private equity group

Published on .

San Francisco—Digital marketing agency AKQA has sold a majority stake in the agency to General Atlantic, a private equity firm. Financial terms were undisclosed, although the asking price was said to have been between $200 million and $250 million. Last fall, AKQA hired investment bank Morgan Stanley to help it evaluate financing options. Under the deal, AKQA will remain independent. The agency’s clients include Coca-Cola Co., Microsoft Corp. and Nike Inc. —Kate Maddox
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