Global marcoms network Publicis Groupe is to acquire technology and marketing services company Sapient in a $3.7 billion all-cash transaction.
Sapient comprises three divisions - Global Markets, which provides business and technology services; Government Services, offering consulting, technology and marketing services to public sector organizations; and SapientNitro, which helps 'tell stories' for brand communications, digital experience, and omni-channel commerce. Last year, Sapient acquired cross-media marketing analytics firm (m)PHASIZE.
The deal, which is valued at $25 per share, has been approved unanimously by the management and supervisory Boards of Publicis and the Board of Sapient. Following the acquisition, what will be known as Pubicis Sapient will be led by Alan Herrick (pictured), who has been Sapient's CEO since 2006, having joined the firm in 1995. Herrick will also serve on Pubicis Groupe's Directoire+, while Sapient founder Jerry Greenberg will join the group's supervisory Board as an independent member.
Commenting on the deal, Herrick said: '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.'
Web sites: www.publicisgroupe.com and www.sapient.com .
All articles 2006-20 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.