Blackstone Advisory Partners
Selected Transactions
Publicis Header
Closed October 2009

Company Description
Publicis Groupe SA is one of the world’s largest advertising agencies, with activities spanning traditional advertising, media consulting and buying, and interactive and digital marketing services.

Situation Overview
Advised Publicis on its cross-border carve-out of Razorfish from Microsoft.  Razorfish is the second-largest interactive advertising agency in the U.S., with capabilities including advertising and branding, search marketing, strategy and technology, and architecture and design.  As part of the transaction, Publicis and Microsoft signed a 5-year Strategic Alliance Agreement.  The transaction was valued at approximately $530 million in cash and stock.

Transaction Summary
The acquisition strengthens Publicis' position as a global leader in digital media, leveraging its existing platforms to offer converged media services, technology innovation, digital media thought leadership, and media buying scale.  The acquisition combines Digitas (acquired by Publicis in 2006), the largest Interactive Agency in the world with the #2 player in Razorfish, resulting in increased scale and enhanced digital media capabilities.  The first-of-its-kind Strategic Alliance Agreement provides Publicis' clients superior terms for display and search advertising on Microsoft properties and creates numerous areas of collaboration between Publicis and Microsoft.


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