According to Adweek, Publicis Groupe has completed its acquisition of independent marketing agency Rauxa. Although the financial terms of the deal have not been disclosed, Rauxa's net revenue was around $70m at the time of the acquisition.
With the acquisition, Rauxa will become part of Publicis Media in the US and continue to be led by founder Jill Gwaltney and president/CEO Gina Smith, who will report to Publicis Media Exchange (PMX) global CEO David Penski and Tim Jones, CEO of the Americas for Publicis Media.
Read more on Adweek.
