TVNewser TVSpy LostRemote SocialTimes AllFacebook FishbowlNY FishbowlDC PRNewser 10,000 Words GalleyCat UnBeige MediaJobsDaily

Publicis Snags Razorfish for $530 Million

handshake1.jpg

After stoking the rumor mill for the past couple of months, Publicis finally closed on a deal to acquire Razorfish from Microsoft for a cool $530 million in cash and stock.

In a statement, the agency umbrella firm’s chairman/CEO Maurice Levy said the deal is “another step forward in realizing our strategic vision of building a world leader in digital communications, a critically important space for our clients”.

The deal, which the New York Times reports is being made for 1.4 to 1.5 times the annual revenue of Razorfish, calls for Publicis to buy display and search advertising on MSN.com and Bing.

More: “Publicis Q2 Numbers to Reflect GM’s Impact

Mediabistro Course

Management 101

Management 101Become a better manager in our new online boot camp, Management 101! Starting October 27, MediabistroEDU instructors will teach you the best practices for being a manager, including, how to transition into a management role, navigate different team personalities and more! Register before September 30 to get $50 OFF with early bird pricing. Register now!