Publicis Groupe has completed its deal for digital and tech firm Sapient Corp.
The French holding company said in early November that it had inked a deal to acquire the Boston-based digital network for $3.7 billion in an all-cash transaction at $25 per share.
"Our clients are facing many adverse trends: from rising global competition, to new comers born from digital, and new paradigms in communications and marketing," said Publicis Groupe CEO and Chairman Maurice Levy in a statement. "With our new capabilities, we will be best positioned to help them transform their businesses and navigate the new world. [Sapient CEO Alan Herrick] and his teams will bring tremendous talents to Publicis Groupe. I am extremely happy to have them on board, and very confident for our shared future."
In the statement, he cited Sapient's marketing, technology and consulting capabilities, as well as its strength in India.
The deal creates a new "digital platform" called
of Sapient, will join Publicis Groupe's supervisory board as an independent member.