Publicis-Sapient deal to be completed today | M&M Global

Publicis-Sapient deal to be completed today

Publicis Groupe has announced that it expects to complete its estimated $3.7bn acquisition of Sapient by the end of today (5 February), after gaining all the required regulatory approvals.

Sapient

Delays with the deal resulted in the takeover having to be postponed from 7 January to 22 January, and then from the 22 January to 5 February.

The all-cash deal will see the creation of Publicis.Sapient, which it claims will be the “largest and most advanced” agency focused on digital transformation, omni-channel commerce, consulting and technology.

According to a company statement, Publicis expects to complete the offer “promptly after its scheduled expiration immediately after 11:59 p.m., New York City time, on February 5, 2015.”

Sapient chief executive and co-chairman Alan Herrick will join the group as chief executive of Publicis.Sapient, while co-founder Jerry Greenberg will become part of the Publicis Groupe supervisory board.

Sapient, which owns SapientNitro and whose clients include Fiat, Unilever and Coca-Cola, last year generated $1.36bn in revenues, making a profit of $85.9m. It employs 13,000 people across 37 global cities.

As a result of the deal, Publicis says digital will now account for the majority of its revenues, three years ahead of its previously started target of 2018.

Back in November, Publicis Groupe CEO Maurice Lévy 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.”

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