Publicis Acquires Sapient to the Tune of $3.7 Billion
Global advertising group Publicis has added Sapient to its list of agencies, purchasing the company on Monday in an all-cash transaction in hopes of beefing up its digital offerings.
In an effort to boost its digital presence, French advertising company Publicis Groupe will acquire U.S.-based digital marketing firm Sapient in a $3.7 billion deal.
The agreement was reached in a unanimous decision by the boards of both Publicis and Sapient. Publicis has agreed to pay $25 a share in an all-cash transaction.
In a prepared statement, Maurice Lévy, chairman and chief executive (CEO) of Publicis Groupe, said, “Sapient is a crown jewel, a one-of-a-kind company born in the technology space with strengths in marketing, communications, consulting, and omni-channel commerce, all of which are equally important to best help clients achieve their digital transformation. It will also give Publicis Groupe access to new markets and creating new revenue streams.”
The acquisition will merge Sapient’s three divisions — SapientNitro, Sapient Global Markets, and Sapient Government Services — with Publicis’ already impressive roster of agencies, which includes Digitas, Razorfish, and Rosetta. Publicis, which saw a setback in attempts for global growth with a failed Omnicom merger last May, is looking to strengthen its presence in the digital space with the merger, according to Lévy.
“This acquisition fulfills many of Publicis Groupe’s objectives: we will enhance our leadership position in digital and leverage technology, consulting capabilities to expand in new verticals, and offering new and exciting opportunities to our talents,” Lévy said.
Image via Shutterstock.
