Victor advertising has bought Fusion advertising, a digital marketing services company, for $9.7 billion.
The transaction was announced Tuesday, with the purchase price set at $1,500 per share.
The deal was valued at $5.4 billion, according to an analyst with Jefferies.
Fusion’s product offerings include direct-to-consumer advertising, sponsored content, in-home video, and paid-advertising.
The acquisition, which includes a 35 percent stake in Fusion, brings Victor’s digital advertising revenues to about $8.8 billion.
Fugent, which has been valued at about $20 billion, has been trying to turn around its fortunes.
In November, the company filed for bankruptcy, leaving many customers to scramble for alternatives.
Fulton-Miller, which acquired Fusion in 2013, has also been struggling to come up with a way to make money from its ads.
That, along with a growing number of customers opting out of its products, has led to the company’s stock plummeting.
Fugu’s stock fell 7.8 percent Tuesday to $5,086.60.