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.
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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.
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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."