Sapient Closes Nitro Group Acquisition Announces Stock Grants Under NASDAQ Marketplace Rule 5635
BOSTON--(BUSINESS WIRE)--Sapient (NASDAQ: SAPE) today announced that it has completed its acquisition of Nitro Group Ltd. ("Nitro"), a leading global advertising network that serves major clients including Mars, ConAgra, Volvo, Nike and Foot Locker.
NASDAQ Notice
In connection with the Nitro acquisition, Sapient issued to ten individuals, in aggregate, 404,130 shares of restricted Sapient common stock that are subject to resale restrictions that lapse in 50% increments on July 1, 2010 and July 1, 2011, respectively.
Additionally, Sapient issued to fifteen individuals, in aggregate, 352,302 restricted stock units (“RSUs”) that entitle the holders to receive shares of Sapient common stock upon vesting. A portion of the RSUs will vest on the third anniversary of the award date and a portion will vest over the next four years on a schedule consistent with the vesting schedule of equity awards that each individual held in Nitro. All unvested RSUs will be forfeited upon termination of the applicable individual’s employment for any reason.
The awards of both the restricted stock and the RSUs were granted without shareholder approval in reliance upon NASDAQ Marketplace Rule 5635(c)(4).
About Sapient
Sapient, a global services firm, operates two groups—Sapient Interactive and Sapient Consulting—that help clients compete, evolve and grow in an increasingly complex marketplace. Sapient Interactive provides brand and marketing strategy, award-winning creative work, web design and development and emerging media expertise. Sapient Consulting provides business and IT strategy, process and systems design, package implementation and custom development, as well as outsourcing services such as testing, maintenance and support.
Sapient’s passion for client success—evidenced by its ability to foster collaboration, drive innovation and solve challenging problems—is the subject of case studies on leadership and organizational behavior used by MBA students at both Harvard and Yale. Leading clients, including BP, Essent Energie, Hilton International, Janus, Sony Electronics and Verizon, rely on the company’s unique approach to drive growth and market momentum. Headquartered in Boston, Sapient operates across North America, Europe and India.
Sapient is a registered service mark of Sapient Corporation.
About Nitro Group
Nitro Group is a global communications network that spans seven offices around the world. Nitro facilitates measurable business growth for leading clients including Mars, Volvo, Nike, Footlocker and ConAgra through a results-oriented approach that combines communications with business strategy, digital innovation and branded entertainment. Nitro provides these integrated services in a connected way across the globe, clearly differentiating Nitro from the traditional holding companies that are still providing fragmented solutions from disparate businesses. Nitro has been recognized by respected industry observers such as Forbes, The Wall Street Journal and CNN as one of the most innovative and forward thinking agencies in the world. Nitro’s recent “Best Job in the World” campaign for the Queensland Tourist Commission won Best of Show at The One Show. Headquartered in New York, Nitro operates across North America, Europe, Australia and China. For more information, please visit www.nitrogroup.com.