Microsoft

(MSFT) - Get Report

is looking to sell Internet ad agency

Razorfish

and French marketing company

Publicis Groupe

is thought to be a potential buyer, the

Financial Times

reports.

Microsoft bought Razorfish in 2007 as part of its $6 billion acquisition of

Aquantive

. The software company has hired

Morgan Stanley

to help it find a buyer for Razorfish, which used to go under the name Avenue A Razorfish.

The

Financial Times

reports that one analyst estimates Razorfish could be worth $600 million to $700 million.

Microsoft declined to comment for the

Financial Times

.

Razorfish, based in Seattle, has more than 2,000 employees. Its clients include

Nike

(NKE) - Get Report

and

Kraft

(KFT)

.

Razorfish is credited with designing the logo for Microsoft's new search engine Bing, as well as creating the online ads for Bing's publicity campaign, according to

CNET.com

.