Interpublic Group (IPG) has acquired Midtown-based Translation Consulting & Brand Imaging, an entertainment/promotions agency focusing on urban and youth markets. Past Translation clients include Reebok and General Motors; celeb promoters include Beyonce, Justin Timberlake, Jay-Z and Gwen Stefani. The company, which has about 45 employees, will continue as a stand-alone unit led by founder and chief creative officer Steve Stoute. Terms not disclosed. AdAge (subscription required) had predicted the deal a few weeks back. Release
Update: Adweek pegs the deal between $10 million and $15 million.
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