Publicis expands digital operations with Digitas purchase

Publicis Groupe is set to acquire American digital and direct marketing firm Digitas Inc in a deal worth £660m.

Digitas Inc incorporates digital agencies Digitas and Modem Media, plus healthcare marketing agency Medical Broadcasting Company.
Maurice Lévy, chairman and CEO of Publicis Groupe, said the strategic acquisition aimed to boost its presence in the digital marketplace.
He added the operation would act as a "powerful growth engine" for the group at a time when digital and interactive marketing are predicted to constitute more than 10% of all worldwide investment by 2010.
The French global network owns media agencies ZenithOptimedia and Starcom.
With the new deal, marketing services will account for 34% of the group's revenue compared with its current 28%, while digital and interactive operations will represent 15% of total revenues.
The transaction had received unanimous approval from the board of directors of both companies, with Publicis Groupe to pay Digitas Inc shareholders $13.50 for each share.

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