The tips have come in fast and furious over the last couple of hours including this: “Publicis Groupe S.A. and LBi International N.V. Agreement on Intended Recommended Public Cash Offer.” Well, now according to Reuters, it is indeed true as the holding company has agreed to acquire Dutch ad agency LBI International NV in a deal valued at nearly $540 million. While not quite the $600 million figure some predicted a few months ago, Publicis Groupe’s latest purchase does near the price that WPP paid for AKQA.
In a statement, Publicis Groupe chairman/CEO Maurice Levy says, “The acquisition of LBi is another step forward in further strengthening our digital operations. 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. Furthermore, this acquisition has a positive impact on our EPS in the first year post acquisition.”
According to the official announce, LBi’s management/supervisory board was basically in full support of the acquisition, saying the “transaction is in the best interests of the company and its stakeholders including its clients, shareholders, partners and employees.”