Sir Martin Sorrell beats WPP in the race to buy MediaMonks
Sir Martin Sorrell has bought Dutch firm MediaMonks for €300m (£266m) in a deal that marks his return to the forefront of the advertising industry.
Sorrell pursued the deal despite receiving a legal letter from WPP alleging that he was being “unlawful” and in breach of his confidentiality agreement.
Media Monks has revenues of around €110 million and operates through 11 offices in 10 countries across the US, Europe, Asia, Latin America and the Middle East. It made around €10m profit last year.