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Martin Sorrell's S4 Capital says the much buzzed-about potential acquisition of San Francisco-based digital media and programmatic consultancy MightyHive is on announcing early Tuesday a deal valued at $150 million.

S4 whose stated focus is on digital creative, digital media buying and planning and first-party data said in a London Stock Exchange U.K. regulatory disclosure that programmatic advertising spend is seeing significant growth and that MightyHive is "well-positioned to capitalize on the digital transformation and disruption of marketing." MightyHive saw revenue increase at a compound annual growth rate of 129 percent from 2015 to 2017, S4 said.

In a note to clients and partners from the company's founders on MightyHive's website, its leadership said MightyHive will become a wholly owned subsidiary of S4 and that Pete Kim, CEO and co-founder and Christopher Martin, COO and co-founder, will join the S4 Capital board of directors while remaining in their day-to-day roles at MightyHive.

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