Publicis Groupe, one of the largest communications firms in the world, has acquired 51 percent of New York-based social media agency Big Fuel with an option to increase its participation to 100 percent from 2014.
Big Fuel will be aligned under Publicis’ VivaKi organization and serve as a strategic “social media center” for some of its other properties, namely digital agencies Digitas, Razorfish, Starcom MediaVest Group and Zenith Optimedia.
Financial terms of the deal were not disclosed.
We should note that Ad Age reported that Publicis was in talks to buy Big Fuel last week.
With more than 170 employees, Big Fuel is a “pure-play” social media agency with 2011 revenue expected to reach nearly $30 million. The agency delivers strategic advice and creative, distribution, management and analytics services to companies like GM, T-Mobile, Microsoft and Philips.
Publicis Groupe, which is listed on the Euronext Paris Exchange, employs approximately 50,000 with activities spanning 104 countries.