IPG sells digital company Huge to private equity firm AEA Investors

Interpublic Group has sold the digital company Huge to AEA Investors, a leading global private investment firm, and is joining forces with Hero Digital, an existing AEA portfolio company. Terms of the deal are not being disclosed.

“We’re pleased for the team at Huge and look forward to seeing the next phase for this storied digital brand as the company continues its evolution under new ownership,” commented Philippe Krakowsky, CEO of Interpublic.

IPG global brands include Acxiom, Craft, FCB, FutureBrand, Golin, Initiative, IPG Health, IPG Mediabrands, Jack Morton, KINESSO, MAGNA, McCann, Mediahub, Momentum, MRM, MullenLowe Global, Octagon, R/GA, UM, Weber Shandwick and more. IPG is an S&P 500 company with total revenue of $10.89 billion in 2023.

Omnicom Group, the global advertising and marketing giant, is reportedly in advanced talks to acquire its rival, Interpublic Group, in an all-stock deal, according to The Wall Street Journal. The deal could value the IPG between $13 billion and $14 billion, excluding debt.

If finalized, the deal would combine the world’s third-largest ad holding company, Omnicom, with the fourth-largest, Interpublic. The potential merger is expected to draw significant regulatory scrutiny, particularly given the size and scope of the two companies, which own a wide array of advertising agencies and media buying and planning firms. Interpublic’s portfolio includes McCann, Weber Shandwick, and Mediabrands, while Omnicom owns high-profile agencies like BBDO and TBWA and Omnicom Media Group. As of Friday, Interpublic was valued at $10.9 billion, while Omnicom stood at $20.2 billion.

The combined entity’s revenues would exceed $20 billion, according to 2023 figures, making it a formidable competitor to industry leaders WPP and Publicis Groupe, which posted revenues of $15 billion and $13 billion, respectively, as per reports.