Publicis has acquired US digital and direct marketing agency group Digitas for $1.3 billion (£660 million) in cash.
This follows comments made by Publicis chairman and CEO Maurice Levy in October where he outlined an acquisition strategy for the company that lead some to believe a bid could be made for rival fimr Aegis (see
Publicis Looks To Implement Acquisition Strategy).
Lévy said of the Digitas acquisition: “We have been seeking to make an important strategic acquisition which could really boost our presence in the digital marketplace. The acquisition of Digitas allows us to immediately attain our goal of being one step closer to the future.
“The strong relations forged over the recent months with David Kenny and his management team will benefit all of our respective stakeholders – clients, talent, and shareholders. And because of the friendly and cooperative spirit of this transaction, we look forward to a very successful and seamless integration.
“We also intend to roll out Digitas’ capabilities on a global scale in order to cement our leadership position worldwide. This operation will constitute a powerful growth engine for all of Publicis Groupe in a context in which digital and interactive marketing and communications should represent more than 10% of all worldwide investment by 2010.”
David Kenny, chairman and CEO of Digitas, added: “We believe this transaction provides substantial value to our shareholders as well as strategic advantages for the combined companies.
“By joining Publicis Groupe, we are bringing together key assets and strengths in order to capture a larger share of a sector which is expanding dramatically.”
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