Wednesday, Publicis Groupe SA (PUBGY.PK) announced the completion of its acquisition of Razorfish. The transaction was subject to customary closing conditions. Razorfish will be a wholly-owned unit of Publicis Groupe and will be organizationally part of VivaKi, ZenithOptimedia, Denuo, Digitas and VivaKi Nerve Center, the company added.
Publicis Groupe stated that it has acquired the Razorfish group from Microsoft in exchange for 6.5 million Publicis Groupe ordinary shares held as treasury shares and US$ 286.8 million in cash was paid out of its cash reserves. The company said this gives Microsoft a 3.3% stake in Publicis Groupe.
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