Maurice L�vy's French marketing services group continues with plan to increase digital revenue
Maurice L�vy's Publicis Groupe is continuing to buy up digital marketing agencies with the $575m (�502m) acquisition of US company Rosetta.
Publicis, which has set the target of deriving 35% of group revenues from digital operations in the next three years, said the deal pushes it beyond the 30% mark.
The French marketing services group has paid cash to acquire the US agency, which is expected to make revenues of $250m this year, with Rosetta's management shareholders in line for another payout in 2014 if the business hits performance targets.
Publicis said the business will remain as an autonomous brand ? it has 1,100 staff and nine offices in the US and Canada ? and will continue to be run by founder Chris Kuenne.
Levy, the chairman and chief executive of Publicis Groupe, described the deal as a "key next step in our strategy to become the 'human, all digital agency group'".
He has not shied away from spending considerable sums on acquisitions to transform its traditional agency business to a digital-based model.
In 2006 Publicis spent $1.3bn on Digitas and in 2010 paid Microsoft $530m for the Razorfish ad agency network.
"Rosetta, with its differentiated consulting heritage and integrated approach, adds to the fantastic stable of digital services we offer clients today," Levy said.
Publicis said Rosetta, launched in 1998, is the second-largest independent digital marketing agency in the US.
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Source: http://www.guardian.co.uk/media/2011/may/17/publicis-rosetta-maurice-levy
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