AKQA takes majority stake in digital agency Potato
WPP-owned AKQA has taken a majority stake in Potato, a digital agency specialising in designing and building web apps.
Headquartered in London, Potato employs over 100 people across three offices including Bristol and San Francisco. Working with clients such as Google and Canon, the agency posted revenues for the year ended 31 March 2015 of £6.9m, with gross assets of £4.1m, as at the same date.
Ajaz Ahmed, AKQA chief executive (pictured, above right) said: “The imaginative application of technology has always been the driving force in our ability to pioneer what’s next. As clients embrace the latest frameworks and programming languages we are delighted to welcome Potato to the family so we can contribute to the future together.”
Potato’s teams will continue to operate independently, collaborating with AKQA on shared initiatives and projects.
Jason Cartwright, Potato chief executive (pictured left) added that the agency had "tremendous admiration for AKQA’s creativity, vision and values" and that it was excited about the opportunities this partnership will create for our clients.
"The intersection of data, engineering and creative excellence is a perfect description of where our industry is heading," said Cartwright.
Last week, WPP boss Sir Martin Sorrell revealed that during 2015, the group competed 52 transactions, 18 of which were investments and acquisitions made in new markets, with 37 in quantative and digital sectors and eight driven by individual client needs. It also reported a 6.1 per cent growth in revenue to £12.23bn within its preliminary results for 2015, with headline profit at £1.25bn, an increase of 8.1 per cent.