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August 11, 2009

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Publicis snares Razorfish

FRENCH advertiser Publicis Groupe SA has agreed to buy Microsoft Corp's digital advertising firm Razorfish in a move to boost its share of advertising on the Web, according to a joint statement released on Sunday.

The deal is valued at US$530 million, comprised of cash and 6.5 million Publicis Groupe treasury shares. The two companies also signed a five-year strategic alliance agreement that will allow Publicis to purchase display and search advertising from Seattle-based Microsoft on favorable terms across Microsoft's digital properties in exchange for certain minimum guaranteed purchases.

In addition to Microsoft, Razorfish's major clients include Ford Motor Co, Best Buy Co and McDonald's Corp.


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