French advertising group Publicis Groupe said Monday it would buy Boston-based marketing, communications, and consulting firm Sapient Corp. in a deal valued at $3.7 billion.
Publicis said that once completed, the all-cash takeover will boost its digital and interactive services business to half of the group’s total, and lead to higher revenue growth. Sapient will be renamed Publicis.Sapient, and it will be led by Alan Herrick, the current chief executive of the Boston company.
I worked at Sapient from 1995 through 1998, back when it was primarily an IT consultancy. Obviously, it's changed over the years - but I'm still a bit surprised that an ad agency would buy them.
(I no longer own any stock in the company. A bit of a pity, since the announced purchace price is around a 44% premium to Sapient's Friday close.)
Originally posted at http://edschweppe.dreamwidth.org/179394.html - comment wherever you please.