Re: UKNM: @NY EXTRA -- Agency.Com in Merger

[Mike Bracken]

I'd question the numbers of staff BTW. By my reckong more like 220/240


Eamonn mentioned this yesterday - part of the overall Agency.com plan. And

will the new interactive TV division be split off?And who  are Omnicom when

they're at home. And how much is their 40% worth. And are they public?

As usual, bribes paid for any info....


God, this place would be a lot better off with some decent new media

journo's, you know....


Mike Bracken

Deputy Editor, Internet Magazine

(44) 171 309 2783




----------

>

From: Steve Bowbrick <stevewebmedia [dot] com>

>

To: uk-netmarketingchinwag [dot] com

> Subject: UKNM: @NY EXTRA -- Agency.Com in Merger

> Date: 02 June 1998 11:57

> 

>         ^

>    -----^--------------------------------------------------------

>         ^

>         ^

>         ^                     < @ N Y >

>         ^

>         ^

>         ^

>      Special Report

>      June 1, 1998

>         ^

>         ^ For the second time in @NY's three-year history, breaking

Silicon

> Alley industry news warrants this, a Monday newsflash about a local deal,

> this one between between Agency.Com and a Boston-firm. We give you a full

> story and will follow with analysis in @NY's regular Friday issue. -- THE

> EDITORS

>         ^

>         ^

>         ^ News Bulletin: Agency.Com in Major Merger

>         ^

>         ^ Agency.Com, the Silicon Alley startup that began less than

three

> years ago over beers after a World Wide Web Artists Consortium meeting

has

> completed a major merger with a rival, Bostan-based interactive firm. The

> deal creates one of the largest players in the rapidly consolidating

> interactive services business. For Agency.Com, he union means that in

less

> than three years the company has moved from a startup of less than a

dozen

> people in borrowed, windowless office space in the Time-Life building to

a

> multinational interactive service firm with more than $60 in annual

billings.

> 

> Agency has merged with Boston-based Interactive Solutions, Inc., one of

> that city's largest interactive shops in a deal that brings 375 employees

> under one corporate roof with offices in New York, Boston, San Francisco,

> Dallas, and London - and with international advertising holding company

> Omnicom as a 40-percent partner. The merged company will still be called


> Agency.Com.

> 

> Chris Butler, president and CEO of Interactive Solutions, will become

> chairman of the merged company and Chan Suh, chairman and CEO of

> AGENCY.COM, will become CEO. Interactive Solutions' Boston office will

> become AGENCY.COM: Boston. Thor Johnson, currently Interactive Solutions

> COO, will become president of that office. Agency.Com co-founder Kyle

> Shannon will be chief creative officer and Agency.Com CFO Ken Trush will

be

> chief financial officer of the merged company. No layoffs are

anticipated,

> said Suh; in fact, the larger company will be seeking staff.

> 

> 

> The deal clearly makes the new Agency.Com a top five player in the race

to

> consolidate the Fortune 1000 interactive services biz, a race that

includes

> well-funded takeover machines like US Web and iXL.

> 

> "When Chris Butler and I began talking we saw immediate synergies and

> realized that a merger would bring unique benefits to our respective

> clients," said Suh, who co-founded Agency.Com with Shannon in 1995. "The

> combination of Agency.Com's creative strength and its ability to manage

> significant worldwide interactive relationships together with Interactive

> Solutions' expertise in developing business strategies for sophisticated

> interactive business, brand orientation and enterprise-scale integration

> skills will benefit all of our clients. I'm very optimistic about the

> growth potential of the new Agency.Com."

> 

> Said Butler, "The interactive age has dawned. Global 1000 companies are

> realizing that harnessing interactivity is essential to survival. Merging

> with Agency.Com will give Interactive Solutions' industry-leading

technical

> 

> and creative staff even more opportunity to tap into the possibilities

for

> growth that the Internet presents. The combined new company will be

better

> able to serve its customers, both domestically and internationally."

> 

> The merged venture has a blue chip list of clients, including American

> Express, BMG Interactive, British Airways, BT, General Motors, Glaxo

> Wellcome, GTE, Harvard Pilgrim Health Care, Hewlett-Packard, Hitachi

> America, Lucent Technologies, MetLife, Nationwide Insurance, Nickelodeon,

> Putnam Investments, Prudential, Reuters, Showtime Networks, The Economist

> Group, Uncle Ben's, Unilever and Xerox.

> 

> More details on the deal and the rapidly consolidating market for

> interactive companies in the next issue of @NY.

> 

> Talk about the merger and the white-hot market for deals on @NY's

> discussion boards: http://www.atnewyork.com/news-bbs/

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