Publicis Groupe has acquired digital marketing firm Sapient for $3.7bn (£2.3bn), entirely in cash.

Sapient is made up of three divisions – SapientNitro, Sapient Global Markets and Sapient Government Services – which span a wide variety of digital services. By buying the company, Publicis plans to create a platform named Publicis.Sapient, focused on digital transformation, headed up by Sapient CEO Alan Herrick.

The acquisition will give the group combined revenues of over €8bn (£6.2bn), and will help push Publicis digital revenues past the 50 per cent mark in 2015, three years ahead of its original target.

“Sapient is a crown jewel,” said Publicis CEO Maurice Lévy. “A one-of-a-kind company born in the technology space with strengths in marketing, communications, consulting and omni-channel commerce, all of which are equally important to best help clients achieve their digital transformation. It will also give Publicis Groupe access to new markets and create new revenue streams.”