Don't miss

Replay


LATEST SHOWS

IN THE PAPERS

A presidential fairy 'tail': Meet Tory, South Korea's new 'First Dog'

Read more

ACROSS AFRICA

Dual therapy drug trial offers hope to HIV patients

Read more

IN THE PAPERS

'From Jupiter to Colbert': France's nationalisation of shipyard draws criticism

Read more

EYE ON AFRICA

Nigerian lawmakers vote to reduce president's powers

Read more

MEDIAWATCH

Trump's transgender backlash

Read more

THE DEBATE

The Battle for Venezuela: Pressure mounting on Maduro ahead of Sunday's vote

Read more

ENCORE!

Actress Helen Mirren on TV honours and tackling sexism

Read more

FOCUS

Teething problems for French President Macron's party

Read more

THE INTERVIEW

Libya's Haftar vows to deal with terrorists 'through weapons'

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)