Publicis Groupe bids for German digital agency
Publicis Groupe is attempting to acquire the whole of Pixelpark, a German full-service digital communications agency, in which it already has a 57% stake.
Pixelpark: Publicis bids for German company
Publicis has announced plans to launch an offer for all the outstanding shares in the middle of February. The offer is supported by the Pixelpark board.
The offer is pitched at €1.70 per share. Pixelpark's current share price of €1.72 gives the whole company a market capitalisation of approximately €30m.
Pixelpark, which is headquartered in Berlin with five offices including Spain and Switzerland, will retain its name and fold into the Publicis Worldwide network.
Pixelpark was founded in 1991 and merged with Elephant Seven in 2007. It specialises in creative and digital brand management, content management, social media, mobile, performance marketing and display.
According to Publicis Groupe, Pixelpark, whose clients include Lufthansa and Deutsche Post, earned revenues of €16.4m (£13.7m) for the first half of 2011, which is a 27% increase from the same period a year ago.
Maurice Lévy, chief executive of Publicis Groupe, described the German market as "very important".
He said: "By integrating Pixelpark, which is the leader in digital communication in Germany, we're strengthening our global presence in this sector and ensuring that our clients can benefit from the best possible work, in Germany and internationally."
Publicis Groupe's planned takeover of Pixelpark follows its acquisition earlier this month of French digital agency Mediagong.
Follow Sarah Shearman on Twitter @Shearmans
This article was first published on campaignlive.co.uk
Latest jobs Jobs web feed
- Digital Advertising Manager - High End Lifestyle Ultimate Asset £43000 - £50000 per annum + commission & excellent benefits, London
- Media Exec - Leading Media Agency - Mobile Sector Ultimate Asset £22000 - £26000 per annum + Amazing Benefits, London
- Biddable Paid Social Senior Executive - Top 10 Agency Ultimate Asset £25000 - £30000 per annum + Amazing Benefits, London
- Account handler ready for an immediate start? Freelance, Contract or Temp to Perm? Barker Graves Up to £250/day, central london
- Are you a Freelance AM, SAM or AD in a UK creative agency? We need you! Day rates £150 - £250 a day! Barker Graves Up to £250/day, Central London
- Freelance Account Manager? We need you now! Exciting accounts and excellent rates up to £170 a day. Barker Graves Up to £170/day, central London