Advertising giant Publicis to buy digital ad specialist for US$3.7b

Paris

PUBLICIS, the world's third-largest advertising holding company, has agreed to buy digital ad specialist Sapient for US$3.7 billion in cash as it seeks to accelerate growth after a botched merger earlier this year.

Publicis said on Monday that the deal values US-based Sapient at US$25.00 per share, which represented a 44 per cent premium to Friday's close.