MUMBAI: The Havas Group has entered into exclusive negotiations with the management of FullSix Group and Motion Equity Partners, in view of acquiring FullSix, a European independent digital communications group.

The transaction estimated at $75 million, expected to close during the month of October, is subject to a consultation process with FullSix staff representatives.

Founded in 1998 in Paris by Marco Tinelli and his partners, FullSix generates gross margin of around €60 million and employs over 600 people based in France, Portugal, the United Kingdom, Spain, the United States and Italy.

The acquisition will be a key growth driver for both groups.

Havas CEO Yannick Bolloré said, “I am delighted to welcome all the FullSix talents into the Havas family. We share common values and we both put innovation and integration at the heart of everything we do. I am confident that Marco and his team will further reinforce Havas' expertise on behalf of our clients, and that Havas will provide FullSix with a major new source of growth.”

FullSix Group president Marco Tinelli added, “We are happy and proud to be joining the Havas Group. This is an enormous opportunity for the FullSix Group and all its talents and clients. We will continue to drive the market forward, with even greater ambition than before. Havas is a dynamic, entrepreneurial group that will bring us the clout, the network and the talents we need to develop even faster. FullSix will add to and develop the Havas Group's Digital & Data scope and expertise. We are very close in terms of culture, our knowhow is largely complementary and our ambitions are the same.”

Tinelli will continue as president of the FullSix group and Bolloré will oversee the process of integrating entities into the Group.