Havas Group, the Paris-based parent of Euro RSCG Worldwide Advertising announced first-quarter billings up by 39.5% to $1.98 billion. The growth is attributed to record new business wins, totalling over $1 billion, plus a forceful global acquisition strategy across all its four divisions.
The billings growth didn't, however, include Havas' planned $2.2 billion acquisition of Maryland-based Snyder Communications, which posted a first-quarter increase in revenues of 18%. The Snyder takeover is due for formal completion later this year.
News source: Advertising Age - Daily Deadline