Publicis Group has got its chequebook out again as it continues to build its digital capabilities, with the €416m (£333m) purchase of LBi, adding to its stable of digital shops which includes Razorfish, Digitas and Rosetta.
The deal, which comes just months after WPP paid $540m for AKQA, means that digital revenues account for 35% of Publicis business.
LBi was founded in 2006 and built its business through a series of mergers and acquisitions. It employs about 2,200 people in 16 countries.
Publicis chairman and chief executive Maurice Levy, said that the acquisition was “another step forward in further strengthening our digital operations”.
He added: ” “A lot of people in the digital world are coming to us because they feel we are the right nest. Within the global advertising landscape, LBi is a well-known partner for extraordinary digital customer experiences, based on a blend of creativity and expertise in technology, strategy and social media.
“The integration of LBi will further enhance our capabilities and, through a wider pool of resources and talent, help deliver innovative and best-in-class services to our clients, which is our relentless focus.”
LBi chief executive Luke Taylor said: “Publicis has consistently demonstrated a clear and emphatic belief in the importance of digital media and is recognised for grooming and managing its talent worldwide. Our entire strategy to date is built on a commitment to relentlessly drive and optimise value for our clients. There is now a unique opportunity to pace set the market and collaborate across new geographies and marketing services so that we can accelerate our strategic plans aimed at providing clients with a globally integrated offering.”
