Sapient acquiring Nitro Group, in a $50 million deal
ADOTAS — The digital marketing firm today announced that it will acquire Nitro Group, a global advertising agency that serves major clients such as Mars, ConAgra, Volvo, Nike and Foot Locker.
The deal is a combination of cash and stock valued at roughly $50 million, according to firms. The companies will go to market as two separate brands – Sapient Nitro and Sapient Interactive. Nitro Group’s network was founded in Shanghai; its global presence now spans four continents.
“The customer communications industry—which spends almost $500 billion each year on advertising—is experiencing significant turmoil,” Alan Herrick, president and chief executive officer of Sapient, said in a statement. “We expect new leaders will emerge to redefine how brands interact with their target consumers. This acquisition firmly establishes Sapient’s leadership position in this dynamic and fast-growing segment.”
The acquisition, which is expected to be completed in early July, is subject to certain closing conditions and approvals.
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