Publicis Groupe agrees $3.7bn acquisition of Sapient

French marketing services giant Publicis is investing further in digital with the $3.7bn (£2.3bn/€2.9bn) cash acquisition of Sapient, a marketing, commerce and consulting company that employs 13,000 people worldwide.

Maurice Lévy: Said in September he would step down in 2016
Maurice Lévy: Said in September he would step down in 2016

Sapient co-chairman and CEO Alan J Herrick will join the Publicis Groupe senior management team.

Maurice Lévy, chairman and 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. This acquisition fulfils 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 offering new and exciting opportunities to our talents."

Alan J. Herrick, Sapient president, CEO and co-chairman, added: "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.

"The Sapient team has been on a 24-year journey building a company with the objective of creating significant impact for our clients and the industries in which they operate. With Publicis Groupe, we have found a partner that accelerates the level of transformation we can drive into the marketplace."

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