Two of the banks that advised French advertising giant Publicis on its failed merger with US peer Omnicom have got a second bite at the cherry, advising the French company on its latest multibillion dollar acquisition.

Publicis on Monday announced a $3.7 billion all-cash deal for Boston, Massachusetts-based digital advertising specialist Sapient. The price represents a 44% premium to Sapient's closing stock price on October 31, and the deal is expected to complete in the first quarter of 2015, according to a statement from the French company.