French advertising group Publicis said Monday it is to buy Boston-based marketing, communications and consulting firm Sapient for $3.7 billion.
Publicis said that once completed, the all-cash takeover agreed to by both sides will boost its digital and interactive services business to half of the group's total, and lead to higher revenue growth.
The combined group will have annual revenue above 8 billion euros ($10 billion) and more than 75,000 employees worldwide.
The deal comes six months after the collapse of Publicis' $35 billion merger with Omnicom Group, which had been touted as creating the world's largest advertising firm. The companies blamed an inability of their chief executives to agree on a balance of power in the merged company for the deal's collapse.
Paris-based Publicis runs its namesake agency as well as Leo Burnett Worldwide, Saatchi & Saatchi and DigitasLBi. Last month the group reported revenue growth for the first nine months of the year was only 1.5 percent, and said it expected it to remain about the same for the rest of the year.
Sapient employs 13,000 people at 37 locations around the world. It reported $1.36 billion in revenue for the 12 months to June 30, 2014.
Oscar and Emmy-Winning Composer Kris Bowers Joins Barking Owl For Advertising, Branded Content
Music, audio post and sonic branding house Barking Owl has taken on exclusive representation of Oscar and Emmy-winning composer Kris Bowers for advertising and branded content.
Bowers’ recent film scores include The Wild Robot and Bob Marley: One Love, alongside acclaimed past works such as The Color Purple (2023), King Richard and Green Book. His contributions to television are equally impressive, with scores for hit series like Bridgerton, When They See Us, Dear White People, and his Daytime Emmy Award-winning score for The Snowy Day.
In addition to his work as a composer, Bowers is a visionary director. He recently took home the Academy Award for Best Documentary Short Subject for his directorial work on The Last Repair Shop. The emotionally touching short film spotlights four of the people responsible for repairing the musical instruments used by students in the Los Angeles Unified School District (LAUSD). The Last Repair Shop reflects the positive influence that musical instruments have on the youngsters who play them, and the adults in the LAUSD free repair service who keep them working and in tune.
Barking Owl CEO Kirkland Alexander Lynch said of Bowers, “His artistry, diversity of style and depth of storytelling bring an unparalleled edge to the work we create for global brands. His presence on our roster reflects our continued commitment to pushing the boundaries of sound and music in advertising.”
Johanna Cranitch, creative director, Barking Owl, added, “Kris first caught my attention when he released his record ‘Heroes + Misfits’ where he fused together his jazz sensibility with a deeply ingrained aptitude for melody, so beautifully.... Read More