Google Sells Performics to Publicis Groupe

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Google has sold its Performics search marketing business to the Publicis Groupe.

Chicago-based Performics has about 200 employees in Chicago, San Francisco, New York, London, Hamburg, Sydney, Singapore and Beijing. The business will report into Curt Hecht, president of Paris-based Publicis' VivaKi Nerve Center. Hecht is the former EVP Chief Digital Officer, GM Planworks, a unit of Starcom MediaVest Group (SMG)

"Publicis Groupe has been a leader in the advertising industry for decades, and we believe Performics' growing business will benefit from being part of it," said Google Chairman and Chief Executive Eric Schmidt in a statement. "We look forward to working with Performics as a partner."

The financial terms of the deal weren't disclosed.

The transaction is expected to close in the third quarter.