Publicis Groupe announced the acquisition of US-based digital marketing company Sapient in an all-cash transaction for $25 per share, worth $3.7 billion. The management and supervisory boards of Publicis Groupe and the board of directors of Sapient unanimously approved the agreement.
Sapient CEO and co-chairman Alan J. Herrick joins Publicis Groupe senior management team (Directoire+) as CEO of Publicis.Sapient while Jerry A. Greenberg, co-founder and co-chairman of Sapient, joins Publicis Groupe Supervisory Board.
Says Maurice Lévy, chairman and CEO of Publicis Groupe, "This acquisition fulfills many of Publicis Groupe's objectives. We will enhance our leadership position in digital, achieve our goal of deriving 50 per cent of our revenues from digital and technology three years ahead of our 2018 plan, and leverage technology, consulting capabilities to expand in new verticals, and offer new and exciting opportunities to our talents."
Adds Herrick, "This transaction provides substantial value to our shareholders, offers an ideal cultural match for our people and provides an opportunity to share a wealth of new capabilities with our clients. With Publicis Groupe, we have found a partner that accelerates the level of transformation we can drive into the marketplace."First Published : November 03, 2014