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.