Interpublic Group’s Draftfcb Worldwide has acquired Inferno for an estimated $18m

draftfcbInterpublic Group’s Draftfcb Worldwide has acquired London-based Inferno, the agencies have confirmed. The price is estimated at $18 million with additional payouts tied to performance benchmarks.

The deal was orchestrated by Carter Murray, who joined Draftfcb as global CEO just a few months ago. The deal is the latest in a series of moves he has made to shore up the organization.

Last month Murray hired Lee Garfinkel to run the New York office effective in January. Earlier he appointed Nigel Jones worldwide chief strategy officer and Chris Shumaker as North American CMO.

Founded in 2000, Inferno will be merged into Draftfcb’s existing UK operation and the new entity will be called Inferno Draftfcb. Its offering will include advertising, CRM, retail, Web design, content creation, mobile and social media and other services.IPG_Logo

Frazer Gibney, founding partner and CEO of Inferno, will become the CEO of Inferno Draftfcb, reporting to Murray. Kate Howe, current head of Draftfcb’s UK and Europe operations, is leaving the agency effective at year’s end.

For the full story click Mediapost