Follow

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use
Account
Techi.com Techi.com

Publicis forms media powerhouse with $3.7 billion Sapient acquisition

Global ad giant Publicis is spending big to position itself as the top agency for brands riding the digital wave, after it announced a deal that sees it acquire Sapient for $3.7 billion. Publicis is paying $25.00 per share in an all-cash transaction at a total valuation that is a 44% premium to Nasdaq-listed Sapient’s most recent share price, as of October 31. The deal, which is described as a merger, will see Sapient become a wholly-owned subsidiary of Publicis Groupe.

French advertising company Publicis Groupe SA on Monday said it has offered to buy U.S.-based Sapient for $3.7 billion in cash as it seeks to speed up its transformation into a digital-technology company and bounce back from its failed attempt to merge with rival Omnicom Group Inc. Publicis said it has entered a definitive agreement to pay $25 for each Sapient share. The statement confirmed a report from The Wall Street Journal. The boards of both companies have approved the transaction unanimously, the statement said. The announcement comes just a few days before Publicis, the world’s third-largest ad company, is due to present to investors its plans for boosting its growth from digital advertising, which is becoming increasingly dominated by data and technology.

 

Add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use