Publicis Groupe said it is negotiating exclusively to sell Proximedia to Ycor, a French holding company of technology-focused ventures that was founded last year by Publicis chairman and former CEO Maurice Lévy.
With operations in France, Belgium, the Netherlands and Spain, the 575-employee Proximedia provides digital services to SMEs, small enterprises, small shops and craftsmen for their online presence and promotion.
However, Proximedia has yet to break even and the Groupe has opted to sell the firm, as it is not considered a strategically core asset.
There were more than 60 potential candidates, with around 10 investors — both strategic and financial — expressing interest in a total or partial acquisition of Proximedia.
Ycor’s was the best from all criteria: it includes Proximedia’s operations in Benelux, Spain and France, it is the highest financially and the most convincing in terms of development prospects, says a company statement.
Pending successful negotiations, a sale is expected to be completed during the first half of 2019.