PARIS: Publicis Groupe is planning to acquire Relaxnews, a press and content agency based in Paris, for approximately $17.1 million.
The acquisition will help Publicis develop its strategy of "becoming the undisputed leader in digital, marketing, communications, and business transformation."
Publicis said Relaxnews will sit within the ZenithOptimedia network and work with other divisions in the group.
Jérôme and Pierre Doncieux, co-chairmen at Relaxnews, will continue to lead the press agency. They will report to Sébastien Danet, global managing partner at ZenithOptimedia.
"Bringing Relaxnews into the group would allow us to combine our leadership in digital with their unmatched expertise in today’s content revolution," said Danet. "The synergies between these two pillars will transform media platforms for the benefit of our clients."
Relaxnews was founded in 2000. It provides leisure news and creates content for media, brands, e-commerce sites, and blogs. It formed a global partnership with press agency Agence France-Presse in 2009.
The buyout is scheduled to take place by June 30.
"The considerable investments made by Publicis Groupe in order to be, clearly and uncontestably, the world leader in digital in the communications industry, has led us to be very interested in the innovative solutions developed by Relaxnews to dynamically complete its offering for clients," said Maurice Lévy, chairman and CEO of Publicis.
Earlier this month, Publicis completed its $3.7 billion takeover of digital firm Sapient after numerous delays.
The holding company also reported 3.2% revenue growth in the fourth quarter of 2014, compared with the prior year, to about $2.4 billion.
This article first appeared on Campaign.