24 March 2014
The co-founders of Farringdon-based technology consulting firm Cognifide were in the money today after selling a majority stake to advertising giant WPP.
Miro Walker and Stuart Dean each owned around 37% of the firm, which they set up in 2005 to help companies create and manage their digital marketing operations.
The agency has 200 staff and had annual revenues of £8.8 million last year. Clients include Virgin Media and Skype. Walker said selling to WPP gave Cognifide “genuine global reach”.
The value of the deal was not disclosed but it could be more than £20 million, depending on performance. WPP is facing competition from new rivals such as Deloitte and Accenture which are investing in the booming digital marketing sector.
