Publicis, the world’s third-largest advertising holding company, has agreed to acquire Sapient in an all-cash transaction for $25 per share, valuing the US digital advertising specialist at $3.7 billion.
Publicis said on Monday that the deal has been approved unanimously by its management and supervisory boards, as well as by the board of Sapient, which will recommend shareholders tender their shares.
The transaction is expected to close in the first quarter of next year. Citigroup has committed to financing the bid.