Nominations are open for The AI Trailblazers awards! We’re accepting nominees with a talent for driving AI innovation. Place nominations before Jan. 31.
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.
R/GA also set up a strategic advisory council of senior marketing and technology executives to support opportunities in artificial intelligence (AI) and emerging technology for clients.
R/GA reclaims independence
R/GA has been in IPG’s portfolio for more than two decades. In 1995 the agency was purchased by True North Communications, FCB’s then-holding company. IPG then acquired True North in 2001.
In the announcement, R/GA said as a newly independent company it would be “activating an AI-enabled model to better serve clients, unburdened by the restrictions and overheads of traditional corporate structures.”
“Today is a landmark moment for R/GA, as we enter an exciting new chapter as a private company supported by our new partners at Truelink Capital. This announcement also signals a stark contrast to a wider trend towards consolidation in the agency business,” Forbes said in a statement.
Rolfe added: “The dominant industry narrative around AI has focused largely on efficiency gains in the traditional marketing approach, which is only part of the equation. We are leaning into the creative potential to help brands differentiate themselves and exceed rising customer expectations through new kinds of intelligent experiences that haven’t been possible before.”
Luke Myers, co-founder and managing partner at Truelink, said the company “sees the growth of AI-enabled experiences playing an increasingly important role in unlocking value in marketing services.”
R/GA has been up for sale since last year. Former owner IPG is in the process of being taken over by rival holding company Omnicom Group in a deal that is expected to close in the second half of this year.