French ad firm Publicis to buy Boston-based digital marketing firm Sapient for $3.7 billion

Technology Associated Press

French advertising group Publicis says it's agreed a $3.7 billion deal to buy Boston-based marketing, communications and consulting firm Sapient.

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Publicis says in a statement Monday that once completed, the all-cash takeover will boost its digital and interactive services business to half of the group's total, and lead to higher revenue growth.

The deal comes six months after the collapse of Publicis' $35 billion merger with Omnicom Group, which had been touted as creating the world's largest advertising firm.

Paris-based Publicis runs its namesake agency as well as Leo Burnett Worldwide, Saatchi & Saatchi and DigitasLBi.

Sapient employs 13,000 people at 37 locations around the world. It reported $1.36 billion in revenue for the 12 months to June 30, 2014.