French-headquartered Havas Advertising is expected this week to announce the purchase of agency McKinney & Silver in Raleigh, North Carolina, from ailing internet consultancy MarchFirst.
It is though that Havas plans to incorporate the shop as an autonomous unit reporting to Ed Eskandarian, chairman/ceo of Havas-owned Arnold Worldwide Partners.
Estimates of the price Havas will pay for the agency vary from $20 million to $35m. McKinney & Silver has around 150 employees, with billings of $350m,
News source: New York Times