Facebook, ad holding company Publicis Groupe form partnership

Facebook has reached a partnership with the third-biggest ad holding company in the world — Publicis Groupe, according to Ad Age. Terms of the deal were not disclosed, but sources told Ad Age that the deal is worth around $500 million.

Laura Desmond, CEO of Starcom MediaVest Group (which led negotiations), described the partnership, saying that it is focused on the co-creation of ad products centered around data, video and images — including Instagram. Currently, both sides are only focused on North America, but the plan is to expand internationally.

Carolyn Everson, Facebook’s VP of Global Marketing Solutions, talked with Ad Age about the partnership:

When you look at the composition of the entire partnership, there are aspects benefiting Publicis, whether it’s a first look and a competitive advantage of moving quickly on some of these elements.