Publicis Sapient

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Publicis Sapient

Formerly	Publicis.Sapient, SapientRazorfish, Sapient Consulting, SapientNitro, Razorfish, Sapient Global Markets, Sapient Public Sector, Sapient
Type	Subsidiary
Industry	Consumer Products Energy & Commodities Financial Services Health Public Sector Retail Telecommunications, Media & Technology Transportation & Mobility Travel & Hospitality
Founded	1990
Services	Strategy & Consulting Customer Experience & Design Technology & Engineering Marketing Platforms Data and Artificial Intelligence Innovation & Digital Product Management Digital Business Transformation
Revenue	$1.305 billion (2013)[1]
Operating income	$125.22 million (2013)[1]
Number of employees	20,000+ (February 13, 2019)
Parent	Publicis Independent
Website	www.publicissapient.com

Publicis Sapient is an American digital consulting company, founded as Sapient in Cambridge, Massachusetts in 1990 by Jerry Greenberg and J. Stuart Moore.^[2][3]

On February 6, 2015, Sapient became a fully owned division of French advertising giant Publicis, in a deal valued at $3.7bn (£2.3bn).^[4]

On November 17, 2016, Publicis Sapient announced SapientNitro was merging with sister agency Razorfish to form SapientRazorfish, which would be led by former SapientNitro CEO Alan Wexler. Publicis. At the time, Sapient consisted of both SapientRazorfish and Sapient Consulting, and was co-led by Alan Wexler and Sapient Consulting CEO Chip Register.^[5]

On February 13, 2019, SapientRazorfish and Sapient Consulting were merged into one brand, Publicis Sapient,^[6] led by Nigel Vaz, who was appointed CEO the prior week.^[7]

History[]

Early years[]

Sapient was founded on November 6, 1990 by Jerry Greenberg and Stuart Moore, who met while working at Cambridge Technology Partners. They chose to use a fixed-term, fixed-price model for IT consulting pricing projects, rather than charging on a time and materials basis.^{[citation needed]}

During this period, Sapient was also an early adopter of internet-based technology, and internet-based work grew to over 70% of total revenue by 1999. This led to rapid growth in the period from 1992 to 2000, with revenue growing from $950,000 to $503 million in that period.^[8]

International expansion[]

After a period of contraction following the dot-com bubble burst in the early 2000s, Sapient looked overseas to grow a substantial portion of revenue, rising over 30% in 3 years. This growth was driven by a strategy called "Global Distributed Delivery," which sought to capitalize on the quickly growing tech market in India to grow Sapient's software development capabilities. The operations in India would supplement project teams globally.^[8]

Sapient has made numerous acquisitions throughout its history, beginning in 2006 with Planning Group International. Another important acquisition was DCG group in 2008, which augmented its existing capital markets offerings.^[9]

In 2009, Sapient announced a $50 million acquisition of The Nitro Group, which added 300 employees.^[10]

History of acquisitions[]

Corporate affairs[]

In April 1996, Sapient went public with a price of $21 a share. In the subsequent four years, share prices in the technology sector increased substantially, and Sapient shares soared to a split-adjusted price of $550. However, when the dot-com bust in late 2000, Sapient's shares declined to a low of $0.75/share.^[27] The share hit an all-time high of $17.95 in 2014.^[28]

References[]