By Steven Musil, 29 June 2009 08:46
NEWS
Microsoft is putting internet ad agency Razorfish up for sale, according to a Financial Times report Sunday.
Microsoft, which acquired Razorfish in 2007 as part of its $6bn takeover of aQuantive, has reportedly hired Morgan Stanley to find a potential buyer. The report identified French marketing company Publicis Groupe as a potential buyer.
Formerly known as Avenue A/Razorfish, the agency was credited with designing the logo for Microsoft's new search engine Bing, as well as creating the online ads for the ensuing publicity campaign. The agency has more than 2,000 employees and counts Dell, Disney, and Nike among its clients.
One analyst cited in the FT.com report estimated Razorfish could be worth $600m to $700m.
Representatives for Microsoft and Razorfish did not immediately reply to requests for comment.
The deal for aQuantive was Microsoft's largest ever and highlighted the importance of supporting more-advanced advertising products and technologies across areas including media planning, video on demand and Internet Protocol television. The acquisition of Razorfish specifically was considered especially important it would give Microsoft a new presence in the ad services business and also help promote its rich media and video plug-in Silverlight.
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