S4 Capital acquires technology consultancy TheoremOne
S4 Capital, a global digital advertising and marketing company, has acquired TheoremOne, an LA-based technology consulting firm.
Founded in 2007, TheoremOne helps enterprise clients plan their digital investments; build custom platforms, software, and digital products; rescue struggling projects and failing technology; and upgrade legacy software and business processes.
The firm has swiftly grown to 370 employees globally, with 70% located in the US and Canada. The company posted impressive 40% growth to reach $58 million in revenue in 2021, as demand for digital transformation consulting boomed.
TheoremOne’s client roster includes leading companies such as American Express, Intel, Google, and Disney.
S4 will merge TheoremOne with its subsidiary agency MediaMonks, which launched its own technology services practice in fall 2021. MediaMonks also in January absorbed 4 Mile Analytics, a Santa Cruz, CA-based data consulting firm, further bolstering its technology capabilities.
“With the intersection of marketing, sales, and information technology continuing to be a key topic for brands and all C-suite executives, we at S4Capital are building a genuinely integrated offer for our clients comprising best-in-class technology services combined with content and data & digital media expertise,” said founder and executive chairman Sir Martin Sorrell, who was formerly the longtime chief executive of WPP.
The TheoremOne acquisition will add over 5% to S4’s 2022 profit, the London-based company stated in a press release.
“We are thrilled to embark on the next phase of TheoremOne’s growth and development with our partners at MediaMonks and S4 Capital,” said Will Jessup, founder and head of services at TheoremOne.
The deal is S4’s first since the company twice rescheduled its annual results – which contributed to a 55% decline in share prices since the beginning of 2022. The company cited auditing delays as the source of the unfortunate pushbacks of its annual results.