Firewood, the biggest digital agency in Silicon Valley, will join S4 Capital's digital content arm MediaMonks.
He added that the decision to merge with an established agency rather than build one within S4 had been about the pursuit of organic growth.
"In the first half of this year we were up 40% like-for-like, going into July and August we're up even stronger, so we're showing very significant organic growth, reflecting what's happening in the digital market," he said. " was up in the first six months of this year by 20% traditional advertising was down by 3%," he added, telling CNBC he wanted "nothing to do with the traditional business, because it's slow growth or no growth."
"Traditional agencies are fighting over pricing, they're fighting over inflation caps, and this puts the agency under tremendous pressure between the client and the media owners," he said. "They're trying to win the business by giving guarantees which probably they can't justify. On the digital side it's not about brawn, it's about brain."
In a press release on Tuesday, Firewood said the merger would help the company "expand its around the clock support across regions, enhancing speed and scale without compromising quality."
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