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Sapient Takes Nitro for $50M

Boston-based Sapient, (NASDAQ: SAPE) the IT consulting, advertising, and interactive marketing firm, said today it will acquire Nitro Group, an advertising firm that has seven offices in the Americas, Europe, and Asia and is known for its work for clients such as ConAgra, Foot Locker, Mars, Nike, and Volvo. The cash and stock transaction is worth approximately $50 million, according to Sapient. The companies say they will maintain two distinct brands after the acquisition is completed, Sapient Nitro and Sapient Interactive.

Wade Roush is Xconomy's chief correspondent. You can e-mail him at wroush@xconomy.com, call him at (617) 252-7323, or follow him on Twitter at http://twitter.com/wroush.

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