AXA Private Equity’s Innovation and Growth team has acquired a 20 percent stake in KRDS, the firm said in a statement. The deal value was not disclosed, but a source close to the deal said it was an all-equity investment.
The KRDS investment brings AXA’s tally this year to 24 deals, including bolt-on acquisitions at portfolio companies, exits and secondaries. It has been one of Europe’s most acquisitive firms, particularly in the secondaries market where it has put more than $6 billion to work.
KRDS is a marketing agency that creates and develops marketing and brand communication on Facebook. It has developed campaigns and applications for companies such as Coca-Cola, Renault, Dior, Air France and Facebook in Europe and Asia.
The investment was made from AXA’s Innovation and Growth fund, which focuses on venture and growth capital investments. The fund has made six investments and two exits to date in this year, and focuses on companies which turn over between €5 and €50 million annually. The Innovation and Growth team has €250 million of assets under management, but would not disclose the size or status of the fund.
The KRDS deal is the second AXA has inked this week, after it acquired optical equipment maker Photonis for the second time in a deal worth €510 million. This came only a week after purchasing a German Bank’s €620 million private equity portfolio alongside LGT.