IPG has sold its creative consultancy Huge, once headed by Australian Mat Baxter, to private equity.
Huge has been acquired by AEA Investors, a leading global private investment firm.
Commercial details haven’t been released, which indicates the deal won’t have a material impact on IPG’s results this year.
“We’re pleased for the team at Huge and look forward to seeing the next phase for this storied digital brand as the company continues its evolution under new ownership,” said Philippe Krakowsky, CEO of Interpublic
Baxter in January this year stepped down as CEO, a role he'd had since 2021, and returned to Australia from New York.
Mat Baxter joined marketing measurement start-up Mutinex in May as APAC CEO. He departed in September but kept an advisory role.
In a separate deal, IPG has reportedly bought India-based retail analytics firm Intelligence Node which helps companies understand shopper trends and drive sales.
The Wall Street Journal reported the deal was valued at nearly $US100 million, according to “people familiar with the matter”.
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