S4 Capital, a digital advertising and marketing services company, agreed to acquire two media agencies Metric Theory and Decoded Advertising. S4 then plans to merge Decoded Advertising with its MediaMonks, a digital production company, while Metric Theory will be combining with MightyHive, a media consultancy firm for £147m. “Both combinations continue our momentum, broadening our digital, strategic, creative, data & digital media capabilities in line with our objectives for 2021," Martin Sorrell, S4 Capital Executive Chairman.