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.