Publicis Groupe has acquired data marketing firm Epsilon for $4.4bn ($AU6.1 billion), outbidding rival Goldman Sachs and Advent International.
The acquisition is the largest deal in the holding group’s 93-year history and gives Publicis access to Epsilon’s data capabilities.
Publicis Groupe has struggled financially in recent years, missing revenue targets for the fourth quarter of 2018.
As a result, it suffered its largest single-day stock price decline since Sept. 11, 2001.
Publicis Groupe’s management and boards unanimously approved the Epsilon deal, describing it as “a one-time opportunity to seize, given the evolution of the industry and the implying transformation of marketing solutions.”
According to reports, Publicis outbid rival Goldman Sachs and global private equity firm Advent International.
The final acquisition agreement includes a net purchase price of $.395 billion and total cash consideration of $4.4 billion, which is lower than previous estimates that were as much as $5 billion ($AU7 billion).
