New York—Paris-based Publicis Groupe has acquired 51% of Big Fuel, New York, a social media agency. Under the terms of the deal, Publicis has the option to increase its stake in the agency to 100% by 2014.
Big Fuel's revenues are expected to reach $30 million this year, a 500% increase over last year. Big Fuel's clients include Gore-Tex and Microsoft Corp.
Financial terms of the deal were not disclosed. Big Fuel was represented in the deal by the Jordan, Edmiston Group.