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IPG is reportedly in talks to sell digital agency R/GA.
The Wall Street Journal, quoting people “familiar with the matter,” say the talks are with India-based Tata Consultancy Services.
Terms of the possible deal aren’t known but the news site said R/GA could fetch $US300 million.
Tata has been building its US business, appointing Andrew Essex, the founding CEO of Droga5, senior managing partner.
R/GA’s revenue is underperforming, according to profit results at IPG. One report had revenue down 20%.
In Australia, R/GA launched in 2018 aiming to disrupt the “traditional and siloed” approaches of firms like Deloitte and PwC.
Globally, IPG reported a “solid“ start to the year, posting 1.3% organic growth in net revenue to $US2.18 billion for the March quarter.
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