August 10, 2009
Microsoft Selling Razorfish To Publicis
The French advertising company Publicis announced on Sunday they are purchasing the digital advertising company Razorfish from Microsoft for 530 million dollars.
"The acquisition of Razorfish is another step forward in realizing our strategic vision of building a world leader in digital communications," chairman and chief executive officer Maurice Levy said in a statement.
If the US software company sells Razorfish, it will have 3% of the capital of Publicis, the world's fourth-biggest ad company, and therefore will become one of its largest shareholders, Levy noted during a conference call.
Publicis noted that it would increase the global partnership with Microsoft to further expand online advertising.
Microsoft purchased Razorfish, whose largest clients include Ford, McDonald's, and Starwood Hotels, in 2007 as part of a six billion-dollar buy of digital marketing company aQuantive.
They went to the world's largest advertising companies about Razorfish before committing to sell it to Publicis.
The sale will be completed before the end of 2009. Razorfish will retain and continue to function under its brand name.
Two years after purchasing the American company Digitas, Publicis will, with the acquisition of Razorfish, continue pushing forward into the digital sector.
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