Microsoft and Publicis Groupe announced today that Publicis Groupe would be purchasing digital marketing company Razorfish from Microsoft in a deal worth about $530 million. The deal is expected to be completed using a combination of cash and Publicis Groupe treasury shares.
The two firms have also announced that they have signed an agreement for a strategic alliance that will begin when the deal closes. It's easy to figure out that the agreement between the two will have Razorfish handling Microsoft's online advertising.
Steve Ballmer, Microsoft's Chief Executive Officer, said, "We are grateful for the contributions Razorfish has made to our online advertising business since joining the company as a part of the aQuantive acquisition in 2007, and are pleased that they have found a new long-term home with Publicis Groupe. We look forward to continuing to work with Razorfish as one of our agencies, and we're confident that as a part of Publicis Groupe, Razorfish will build on its success to date in the digital advertising industry."