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General Atlantic buys majority stake in AKQA

Digital marketing agency AKQA has sold a majority stake in the agency to General Atlantic, a private equity firm. Financial terms were undisclosed, although the asking price was said to have been between $200 million and $250 million. Last fall, AKQA hired investment bank Morgan Stanley to help it evaluate financing options. Under the deal, AKQA will remain indepen-dent. The agency's clients include Coca-Cola Co., Microsoft Corp. and Nike Inc.

TechTarget files for initial public offering

IT media company TechTarget said that it has filed a registration statement with the Securities and Exchange Commission for an initial public offering of its common stock. Morgan Stanley & Co. and Lehman Brothers are joint book-running managers for the IPO, while Cowen and Co. and Piper Jaffray & Co. are co-managers for the offering. In November 2005, TechTarget hired investment bank UBS to explore the company's valuation in the mergers and acquisitions market. In the process, TechTarget concluded that an IPO would provide more value to the company's three key constituencies: customers, shareholders and employees.

Outsell forecasts strong U.S. ad growth this year

Research company Outsell projects that U.S. advertising will grow 5.8% this year, led by search spending. According to the report, search spending will grow by 39% this year...

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