S4 Capital PLC (LON:SFOR) shares jumped in early trading Monday as it confirmed that it was in “advanced discussions” to acquire marketing technology firm MightyHive Inc.
S4, set up by ex-WPP (LON:WPP) chief executive Martin Sorrell, said while there was “no certainty” the transaction would compete, it would be in line with its strategy of “creating a new era, new media solution embracing data, content and technology in an always-on environment for global, multi-national, regional and local clients and for millennial-driven digital brands”.
READ: Martin Sorrell’s S4 Capital nabs Michel de Rijk from WPP to be boss of its Asia Pacific operations
MightyHive markets itself both as a media consultancy and an advertising technology agency and has offices in San Francisco, New York, Sydney, London, Singapore, and Toronto.
The potential acquisition follows news last month that S4 had poached Michel de Rijk, a former member of WPP’s media investment management arm GroupM, to head up its Asia-Pacific operations.
S4 was established earlier this year after Sorrell resigned as head of WPP in April amid unspecified misconduct allegations.
Shares were up 2.7% at 114.5p.