• While at Cannes Lions Awards, WPP announced that they have acquired AKQA, one of the largest digital agencies in the world.
• WPP's digital revenues are growing, and announced in January that they are 30% of it's $16 billion revenue.
• AKQA expects 2012 revenues to total $230 million, up from $189 million last year, employs 1,160 people.
   

From the article:

If it wasn't already clear that massive holding company WPP aims to own the digital marketing space, it should be now. The firm has purchased AKQA, reportedly the largest independent digital agency in the U.S. if not the world.

The announcement comes as throngs of ad industry elite are camped out in the seaside city of Cannes, France for the annual Cannes Lions awards extravaganza.

WPP is among the most acquisitive firms in the digital arena. In the past few years it has scooped up a handful of Brazil-based digital agencies, web analytics, and design agencies in Europe, and invested in several other digital services companies. It also owns Blue State Digital, the agency that handled web development, data services, and other digital work for President Barack Obama's 2008 campaign and continues that work for his current re-election campaign.