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We present the results of a series of optical, UV, X-ray and gamma-rayobservations of the BL Lac object S50716+714 carried out by the Swift and AGILEsatellites in late 2007 when this blazar was flaring close to its historicalmaximum at optical frequencies. We have found that the optical through softX-ray emission, likely due to Synchrotron radiation, was highly variable anddisplayed a different behavior in the optical UV and soft X-ray bands. The 4-10keV flux, most probably dominated by the inverse Compton component, remainedinstead constant. The counting statistics in the relatively short AGILE GRIDobservation was low and consistent with a constant gamma-ray flux at a levelsimilar to the maximum observed by EGRET. An estimate of the gamma-ray spectralslope gives a value of the photon index that is close to 2 suggesting that thepeak of the inverse Compton component in the Spectral Energy Distribution (SED)is within the AGILE energy band. The different variability behavior observed indifferent parts of the SED exclude interpretations predicting highly correlatedflux variability like changes of the beaming factor or of the magnetic field insimple SSC scenarios. The observed SED changes may instead be interpreted asdue to the sum of two SSC components, one of which is constant while the otheris variable and with a systematically higher synchrotron peak energy.

AGILE and Swift simultaneous observations of the blazar S50716+714 during the bright flare of October 2007