Sorrell’s £123m swoop

SIR Martin Sorrell’s S4 Capital has bought Silicon Valley digital marketing firm Firewood in a move that gives it access to the world’s biggest tech companies.

It will merge Firewood with its creative production arm Mediamonks, which makes websites, games and films for advertising firms. Firewood’s US clients include Facebook, Google and Linkedin.

Sorrell wants S4 to be a digital agency and has been on an acquisition spree. S4 will pay up to £123m for Firewood, Silicon Valley’s largest independent agency. S4 raised £100m through a share placing to fund the deal.