Microsoft Unloads Razorfish To The French For $530 Million
Posted: August 10, 2009
By: techcrunch.com
More than two years after buying advertising network aQuantive for $6 billion, Microsoft finally unloaded the digital advertising agency that came with that deal. It sold Razorfish to French advertising conglomerate Publicis Groupe for $530 million in a combination stock-and-cash transaction. The price was 1.4 times Razorfish’s 2008 sales of $380 million.
Microsoft has been shopping Razorfish around all summer. It was reportedly hoping to get $600 to $700 million, but the advertising recession didn’t help. Microsoft settled for a slight discount to that……….[read entire story]
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