Don't miss

Replay


LATEST SHOWS

THE DEBATE

Macron in Washington: Can he change Trump's Foreign Policy?

Read more

FOCUS

Catalonia's pro-independence movement tempted by radicalisation

Read more

ENCORE!

Film show: 'May ’68', Director’s Fortnight reloaded, 'A Paris Education'

Read more

IN THE PRESS

Macron and Trump: Dandruff diplomacy?

Read more

PERSPECTIVE

Big data: ‘A key democratic issue’

Read more

MIDDLE EAST MATTERS

Susan Meiselas: Kurdistan through the lens

Read more

BUSINESS DAILY

Global wine production drops to lowest level in 60 years

Read more

MEDIAWATCH

Trump and Macron media moments in the US

Read more

ENCORE!

Photographer Clare Strand explores the causes and consequences of communication breakdown

Read more

Business

Publicis to buy Razorfish from Microsoft for $530 million

Text by NEWS WIRES

Latest update : 2009-11-24

French advertising group Publicis has beat out rivals including WPP and Dentsu to acquire digital advertising agency Razorfish from Microsoft. Razorfish was founded in 1995 and is now one of the largest agencies in the US.

AFP - The French advertising group Publicis said Sunday it would buy the digital advertising agency Razorfish from Microsoft for 530 million dollars (374 million euros).
   
"The acquisition of Razorfish is another step forward in realizing our strategic vision of building a world leader in digital communications," chairman and chief executive officer Maurice Levy said in a statement.
   
The US software giant will after the sale of Razorfish hold three percent of the capital of Publicis, the world's fourth-largest ad group, and thus become one of its main shareholders, Levy added in a conference call.
   
Publicis also said in its statement that it would be boosting the global strategic partnership with Microsoft it had announced in June to develop online advertising.
   
Microsoft acquired Seattle-based Razorfish, whose major clients include Ford, McDonald’s, and Starwood Hotels, two years ago as part of its six billion-dollar purchase of digital marketing concern aQuantive.
   
It approached the world's biggest advertising companies about Razorfish before deciding to sell it to Publicis.
   
The sale is expected to close before the end of the year and is set to be paid in a combination of cash and delivery of 6.5 million Publicis Groupe treasury shares, the French company said.
   
Razorfish will continue to operate under its brand name.
   
Two and a half years after buying the American firm Digitas, Publicis is with the purchase of Razorfish continuing its push into the digital sector.
   
 

Date created : 2009-08-09

COMMENT(S)