Publicis Groupe to acquire Sapient for USD 3.7 bn
In a bid to augment its position in digital, Publicis Groupe is all set to acquire Sapient in an all cash transaction. According to Publicis, the move accelerates its objective to become a leader at the convergence of communication, marketing, commerce and technology. This will create a platform named Publicis.Sapient that would be focused exclusively on digital transformation and the dynamics of an always-on world across marketing, omni-channel commerce, consulting and technology
Groupe officials also informed that its digital revenues will account for more than 50 per cent, three years ahead of 2018 target. Publicis Groupe will also strengthen its leadership team with Sapient CEO and Co-Chairman Alan J Herrick joining Publicis Groupe senior management team (Directoire+) as CEO of Publicis.Sapient and Jerry A. Greenberg, Co-Founder and Co-Chairman of Sapient, joining the Publicis Groupe Supervisory Board.
Maurice Lévy, Chairman and CEO of Publicis Groupe, said, “Sapient is a ‘crown jewel,’ a one of a kind company born in the technology space with strengths in marketing, communications, consulting and omni-channel commerce, all of which are equally important to best help clients achieve their digital transformation. It will also give Publicis Groupe access to new markets and creating new revenue streams. This acquisition fulfills many of Publicis Groupe’s objectives: we will enhance our leadership position in digital, achieve our goal of deriving 50 per cent of our revenues from digital and technology three years ahead of our 2018 plan, and leverage technology, consulting capabilities to expand in new verticals, and offering new and exciting opportunities to our talents.”
“This transaction provides substantial value to our shareholders, offers an ideal cultural match for our people and provides an opportunity to share a wealth of new capabilities with our clients. The Sapient team has been on a 24-year journey building a company with the objective of creating significant impact for our clients and the industries in which they operate. With Publicis Groupe, we have found a partner that accelerates the level of transformation we can drive into the marketplace,” added Mr Herrick.
