MDC Partners Inc. has agreed to acquire Los Angeles-based creative agency 72andSunny

http://online.wsj.com/article/SB10001424052748703507704576021394080686566.html?mod=dist_smartbrief

While relatively small, 72andSunny has managed to lure business from some big-name advertisers, including Hewlett-Packard Co. and Nike Inc. since being founded in 2004. The firm's work includes a corporate ad campaign for H-P that used the tag line "Let's Do Amazing," and a pitch for Nike's soccer business that features a two-minute film directed by Guy Ritchie called "The Next Level."

After six years of being independent, 72andSunny agreed to sell so it could expand overseas (it already has an office in Amsterdam) and beef up on digital capabilities. With MDC's help, "we will be able to grow faster and in a bigger way," says Matt Jarvis, chief strategy officer at 72andSunny.

Terms of the deal weren't disclosed but a person familiar with the matter says the pact includes some cash and an earnout with financial targets for 72andSunny, which could push the purchase price over $20 million. The agency currently has about $28 million in revenue, the person added.