The Interpublic Group has acquired the independent US agency Deutsch for between dollars 200-dollars 250 million, a move expected to facilitate Deutsch's opening of a London office.
The agency announced plans to open a London office 18 months ago when it was interviewing candidates to run the local shop. However, the agency has never opened. John Dooner, the president of IPG, said it was too early to comment on plans for London.
IPG bosses Dooner and Phil Geier signed a deal with Donny Deutsch last week. He reports to Dooner, but doesn't hold a place on the IPG board.
IPG has voiced its commitment to backing Deutsch's international growth, but observers say it is not big enough to be considered as IPG's third network.
IPG owns McCann-Erickson and Lowe Lintas & Partners, but has lacked a third network since it merged Lowe & Partners with Ammirati Puris Lintas a year ago.