Publicis to acquire 'crown jewel' Sapient for $3.7 billion

The boards of Publicis Groupe and Sapient have approved an agreement to form an entity that will operate as Publicis.Sapient.

Nov 03, 2014 02:47:00 PM | Article | Campaign APAC Team

The all-cash transaction for $25 per share has been approved by the boards of both companies. 
Sapient CEO and co-chairman Alan J. Herrick will join Publicis Groupe's senior management team (Directoire+) as CEO of Publicis.Sapient. Jerry A. Greenberg, co-founder and co-chairman
of Sapient, will join the Publicis Groupe Supervisory Board.
The purchase "accelerates achieving Publicis Groupe’s objective to become the leader at the
convergence of communication, marketing, commerce and technology", the company said in a press release. 
As a result of the acquisition, digital will account for more than 50 per cent of Publlicis' revenue, three years ahead of the 2018 plan, the company 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," Maurice Lévy, chairman and CEO of Publicis Groupe, said in the release.