CNET: Publicis Groupe to buy Microsoft’s Razorfish

French advertising group Publicis Groupe has agreed to acquire Internet ad agency Razorfish from Microsoft for $530 million in cash and stock.

Razorfish will continue to operate under its own brand name and continue to serve as Microsoft’s “preferred provider” for Internet advertising, the companies announced Sunday in a joint statement. The deal includes a strategic alliance agreement in which Publicis Groupe will purchase display and search advertising from Microsoft over a five-year period.

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