According to the Financial Times, Microsoft has appointed Morgan Stanley to facilitate Razorfish’s sale.
A senior holding company source told Media the announcement came as no surprise. “The agency has been heading for a sale since the day Microsoft bought it. There have been plenty of talks over the past year.”
He predicted that all the major holding companies would be interested in buying it, “but it will all come down to price.”
Publicis is thought to be a possible bidder as the holding company’s CEO Maurice Lévy recently unveiled plans to launch a five-year convertible bond for upwards of US$860 million, meaning the company may be well-placed to make an acquisition.
However, the source added that Razorfish’s small scale in Asia-Pacific meant that the purchaser would gain little ground in the digital sector in this region.
Its key Asian assets are Hong Kong-based e-Crusade, which handles Nike among other clients, Amnesia Razorfish in Australia and a joint venture with Dentsu in Japan.
Microsoft has controlled the agency, previously called Avenue A | Razorfish, since 2007 as part of its US$6 billion acquisition of aQuantive. According to its website, Razorfish has more than 2,000 employees in 21 offices. It further states that its key clients include Carnival Cruise Lines, MillerCoors, Kraft, Levi’s and McDonald’s and claims 2008 revenues at approximately $400 million.
Razorfish’s global headquarters is located in Seattle.
Representatives from Microsoft, Publicis Groupe and Razorfish were unable to comment by press time.
A senior holding company source told Media the announcement came as no surprise. “The agency has been heading for a sale since the day Microsoft bought it. There have been plenty of talks over the past year.”
He predicted that all the major holding companies would be interested in buying it, “but it will all come down to price.”
Publicis is thought to be a possible bidder as the holding company’s CEO Maurice Lévy recently unveiled plans to launch a five-year convertible bond for upwards of US$860 million, meaning the company may be well-placed to make an acquisition.
However, the source added that Razorfish’s small scale in Asia-Pacific meant that the purchaser would gain little ground in the digital sector in this region.
Its key Asian assets are Hong Kong-based e-Crusade, which handles Nike among other clients, Amnesia Razorfish in Australia and a joint venture with Dentsu in Japan.
Microsoft has controlled the agency, previously called Avenue A | Razorfish, since 2007 as part of its US$6 billion acquisition of aQuantive. According to its website, Razorfish has more than 2,000 employees in 21 offices. It further states that its key clients include Carnival Cruise Lines, MillerCoors, Kraft, Levi’s and McDonald’s and claims 2008 revenues at approximately $400 million.
Razorfish’s global headquarters is located in Seattle.
Representatives from Microsoft, Publicis Groupe and Razorfish were unable to comment by press time.
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