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A day after confirming its interest in acquiring Mightyhive, S4 Capital has announced it has officially acquired the San Francisco-based advertising firm.

In a statement released today, S4 Capital said for a sum of US$150m, it will be adding Mightyhive to its previous acquisition of MediaMonks.

In addition, Mediamonks execs Victor Knaap, Wesley ter Haar and Peter Rademaker will take up the roles of directors in Mightyhive, while Peter Kim and Christopher Martin, has been appointed chief executive officer and chief operating officer of Mightyhive respectively. 

Sir Martin Sorrell, who created S4 Capital and is now the executive chairman said the merger with MightyHive marks an important second strategic step for the company, noting that ‘the peanut has now morphed into a coconut, and is growing and ripening.”

He added that with Mightyhive and MediaMonks under its wings, S4’s focus on the west coast of the United States and companies likes Apple, Microsoft, Google, and Facebook, as well as software giants Adobe, Salesforce, and Oracle will intensify.

"S4 Capital intends to provide global, multi-national, regional, local clients and influencer-driven millennial brands with new age/new era digital marketing services concentrated in three key areas initially - the development of a global digital content platform; first-party data fuelling both digital media planning and creative ideas; and, finally, digital media buying,” said Sorrell.

“Clients of all kinds want these services delivered faster, better and cheaper, by more agile and responsive organizations, either in-house, co-located with them or alone. To this end, S4 Capital will be organized primarily on a unitary basis, with key people continuing to be incentivized through significant, equity ownership in the enterprise.”

“S4 Capital believes that this strategy and structure will deliver significant long-term value for shareowners, particularly through organic growth, supported by strategically-focussed acquisitions.”

Sorrell also recently poached former GroupM’s global chief growth officer, performance media group Michel de Rijk as S4's chief executive officer for APAC.