iStrategyLabs founder and CEO Peter Corbett announced Tuesday that the Shaw-based company has been acquired by J. Walter Thompson — a part of communications conglomerate WPP.
“Some founders think that the day you sell your company is ‘the end’; that you’ve sold your baby,” Corbett wrote in a post on the ISL website. “I never set out to do that — so for years I resisted all the offers that came our way, of which there were many.”
However, the post goes on to say, there came a time when he realized that his nine-year-old, nearly 90-person advertising agency was no longer a small company, and needed the space and opportunity to grow further.
“We’ve done a deal so that our major league ambitions can be fully realized,” he adds. Neither Corbett’s announcement nor a WPP press release on the acquisition discloses any numbers.
ISL will continue to be based in D.C., Corbett’s announcement states, though the company will also develop an office at J. Walter Thompson HQ in New York.
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