December 3, 2018 / 7:30 AM / a year ago

Sorrell in advanced talks to buy ad group MightyHive

FILE PHOTO: Sir Martin Sorrell attends a conference at the Cannes Lions International Festival of Creativity, in Cannes, France, June 22, 2018. REUTERS/Eric Gaillard

LONDON (Reuters) - Martin Sorrell’s new company S4 Capital (SFOR.L) said on Monday it was in advanced talks to buy MightyHive, a San Francisco-based programmatic advertising group that partners with major brands.

Sorrell, the founder of WPP (WPP.L), launched S4 Capital earlier this year after he left the world’s biggest advertising group over a complaint of personal misconduct, which he denied.

In July he pipped WPP in the race to buy Dutch digital agency MediaMonks for around 300 million euros. He plans to build a new business offering content, digital analytics and technology to help clients reach customers in a rapidly changing media environment.

MightyHive uses algorithms to buy and sell advertising space online in real time.

Reporting by Kate Holton; Editing by Kirsten Donovan

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