Interpublic Acquires True North For $2.1bn

Advertising and communications network Interpublic Group has today announced the acquisition of US ad agency True North Communications for $2.1 billion.

Interpublic emerges as the successful suitor to True North following speculation that French media group Havas was back in the bidding for the agency. The UK’s WPP Group was also rumoured to be interested in True North.

“The transaction will unite the resources of two of the leading diversified advertising and marketing communications firms to create the world’s largest marketing communications organisation serving the largest base of global accounts, including 40 accounts served in more than 20 countries,” a statement read.

Commenting on the transaction, John Dooner, chairman and CEO of Interpublic said: “Interpublic and True North create an industry-leading combination of advertising and marketing services capabilities to offer our clients on a global basis. By joining our companies, we have advanced our ability to address client-led trends towards globalisation and integrated marketing communications.”