Today in Super-Long Press Releases news, Le Vieux Publicis Groupe finally announced the approval of its $3.7 billion acquisition of the Sapient organization.
After yet another postponement last month, executives held true on their promise to finalize the deal by noon yesterday, Paris time. From the keyboard of Monsieur Levy himself:
“This deal dramatically sharpens Publicis Groupe’s profile, establishing us as a leader in Marketing, Communication and Business Transformation. Sapient’s marketing, technology and consulting capabilities, its strength in India combined with Publicis Groupe’s global presence, depth in creative, leadership in media, and digital will create a world leader with unmatched capabilities.
Our clients are facing many adverse trends: from rising global competition, to new comers born from digital, and new paradigms in communications and marketing. With our new capabilities, we will be best positioned to help them transform their businesses and navigate the new world. Alan and his teams will bring tremendous talents to Publicis Groupe. I am extremely happy to have them on board, and very confident for our shared future.”
The release goes on to call the deal “truly transformative,” labeling it “the largest and most strategic of its kind in the industry.” The most significant aspect of the new partnership, Publicis claims, is the holding company’s newfound ability to provide clients with a “more connected offering.”
Alan J. Herrick, former Sapient CEO/co-chairman who is now CEO of Sapient.Publicis, gets a bit more excited:
“The combination of our two companies and the creation of the Publicis.Sapient platform together create the most transformational offering in the market. No one is even close.”
In short, everyone at SapientNitro, Razorfish Global, Rosetta, and DigitasLBi now officially has a new boss. The release further clarifies that “most importantly,” the deal will be a boon to shareholders. But what about employees?
“Both Publicis Groupe and Sapient employ the most talented and ambitious people in our industry,” and they will now have access to “a wealth of resources and opportunities.”
Brace yourself for staffing changes.