Advertising and marketing company Interpublic Group of Cos., Inc. (IPG) said Wednesday that it has agreed to buy a strategic stake in HUGE, an interactive agency that designs and develops online businesses.
Terms of the deal were not disclosed.
HUGE has 130 employees across four offices in New York, Los Angeles, Atlanta and London. It will continue to operate under the leadership of its four partners, David Skokna, Sasha Kirovski, Gene Liebel and Aaron Shapiro.
Earlier Wednesday, Interpublic reported a 30.6% drop in second quarter earnings, hurt significantly by a tax provision, while revenues grew 11.1%.
Interpublic shares are currently trading at $8.45, up 50 cents or 6.29%.
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