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August 9, 2009
Microsoft to Sell Razorfish to Publicis for $530M
The Publicis Group said today it struck a deal to acquire digital marketing agency Razorfish from Microsoft for $530 million.
"When we complete this transaction, approximately a quarter of our annual revenues will come from digital communications, and we believe we have more capacity to grow with new clients," Publicis CEO Maurice Lévy said in a statement. (See announcement here.)
Razorfish will continue to operate under its brand name and will be part of VivaKi, a Publicis entity that includes Digitas, Starcom MediaVest Group, Denuo, and ZenithOptimedia. Razorfish clients include Best Buy, Ford, McDonald's, Microsoft, and Starwood Hotels.
Razorfish's management team, including Chief Executive Officer Bob Lord, will remain in place, according to a joint statement issued by Microsoft and Publicis.
In June, Publicis and Microsoft announced they were working together to build upon ways to deliver online offerings to brand marketers. Once the Razorfish deal closes, the Microsoft and Publicis said they plan to expand upon the earlier arrangement.
Going forward, Publicis will be able to purchase display and search advertising from Microsoft over five years on "favorable terms in exchange for certain minimum guaranteed aggregate purchase levels." What's more, Razorfish will continue to be a preferred provider to Microsoft for digital strategy, creative, and experiental marketing services.
Microsoft acquired Razorfish in 2007 as part of its acquisition of aQuantive. But Microsoft's ownership was seen by some as a poor fit and potential conflict because it represented both the ad selling and buying side.
Posted by Anna Maria Virzi at August 9, 2009 10:22 PM
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I had no idea that Microsoft owned RazorFish. Why would they purchase them? They used to be a great company but have suffered in recent years. Now I know why.
Don't these large corporations ever learn?
Chris R August 10, 2009 1:04 PM
Not a bad move. They have now created as big customer for its Bing search engine.
Ronk August 10, 2009 1:18 PM
I don't think Bing can compete with Google. Bing should only make Google better.
Ravi Kuwadia August 10, 2009 11:25 PM