Nov. 3, 2014, 2:57 AM
- Publicis (OTC:PBCBF, OTCPK:PGPEF, OTCQX:PUBGY) has agreed to acquire U.S.-based Sapient (NASDAQ:SAPE) for $3.7B in cash as the French advertising giant looks to increase its digital focus. The news confirms a weekend report.
- Publicis' offer of $25 a share represents a 44% premium to Sapient's close of $17.32 on Friday.
- The deal will boost Publicis' digital revenue to over 50% of its total sales by 2015, three years ahead of schedule.
- The transaction comes after the French company's proposed mega-merger with Omnicom collapsed in May. (PR)
Nov. 2, 2014, 6:33 PM
- A deal to buy Sapient (NASDAQ:SAPE) could be announced as soon as Monday.
- Publicis' (OTC:PBCBF, OTCPK:PGPEF, OTCQX:PUBGY) planned merger with Omnicom (NYSE:OMC) fell apart in May, and its sales growth has slowed recent quarters.
- With Sapient, Publicis would add a more digital-focus to its traditional creative business. CEO Maurice Levy has said he wants Publicis to more closely resemble "an internet company."
- SAPE's market cap is $2.5B; its revenue was $1.26B last year.
Sapient Corp is a global services company that helps clients identify and act upon opportunities to improve their business performance by capitalizing on changes, disruptions, or opportunities that exist in their business or industry.
Industry: Business Software & Services
Country: United States
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