Sapient to buy Nitro Group for $50 million

Sapient Corp., a Boston digital marketing and consulting firm, said Wednesday it agreed to buy the advertising agency Nitro Group LLC for about $50 million in cash and stock.

Sapient cast the acquisition as a means of expanding its advertising reach across traditional as well as online media.

"Clients want a fully integrated, strategically led and digitally enabled agency," Sapient executive director Gaston Legorburu said in a statement.

Nitro, a privately held company based in New York, has operations in North America, Europe, Australia, and China and lists Volvo, Nike, Foot Locker, and others as clients.

Sapient said it expects the deal to close early next month. (AP)