Publicis to buy U.S. digital ad firm Sapient for $3.7B

Publicis, the world's third-largest advertising agency, is set to buy U.S.-based digital ad specialist Sapient for $3.7 billion in cash as it seeks to accelerate growth after a botched merger earlier this year.

Publicis recently failed on a merger with world No.2 ad agency Omnicom, according to Reuters.

Some say the offer for Sapient represents a hefty price for a company whose growth may have peaked, according to the report.

Read more from Reuters.