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French advertising company Publicis Groupe SA has agreed to acquire Microsoft Corp.'s digital ad firm, Razorfish, in an effort to grab more of the ad dollars that are flowing to the Web.
The deal announced by the companies Sunday, comes after weeks of talks between Microsoft and advertising conglomerates including WPP PLC, Omnicom Group Inc. and Japan's largest ad company, Dentsu.
The companies said the purchase price was valued at $530 million. Omnicom last week bid under $500 million for Razorfish, according to a person familiar with the matter. Dentsu's bid topped Publicis's, according to people with knowledge of the bidding.
Razorfish helps companies build great brands by creating engaging experiences for consumers wherever they live in the digital world.
Companies need to learn to do this themselves. 560 million for any website is 559 million too much, I have yet to find a site that a motivated nerdy 13 year old can't recreate during his/her summer vacation (no offense, code is code)
If people, wherever they are, make the site worth 560 million then the total internet advertising/consumer services market is worth what... 9,232,132,232,443,221 ? (hmmm wait, that wouldn't even get you Microsoft I don't think) c.r.a.z.y!
Some execs at publicis may just wake up a few days from now and ask themselves ..did we really sign off on that much for that ..?
and if they dont ..they should