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Interpublic Group (IPG) has sold R/GA to a group led by private equity firm Truelink Capital and the agency’s global leaders.
Los Angeles-based Truelink will own a majority stake in R/GA. R/GA’s management, including global CEO Robin Forbes and chair and global chief creative officer Tiffany Rolfe, will also take a stake in the business.
An R/GA spokesperson declined to disclose the value of the deal.
As part of the purchase, Truelink will spend a minimum of $50 million to establish R/GA’s new innovation fund. In a statement, the business said this would enable it to invest in new skillsets, talent, product development, and future acquisitions.
