AGENCY.COM and Interactive Solutions Will Merge to Form Interactive Powerhouse.NEW YORK--(BUSINESS WIRE)--June 1, 1998--AGENCY.COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. and Interactive Solutions today announced that they have agreed to combine the two companies to form a comprehensive strategic interactive firm. The new firm will be headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and retain the AGENCY.COM name. Omnicom Group
The Omnicom Group (NYSE: OMC) is the world's largest advertising agency holding company in terms of revenue (and one of the big six Inc. (NYSE NYSE See: New York Stock Exchange :OMC OMC Organisation Mondiale du Commerce (French: WTO) OMC Organización Mundial del Comercio (Spanish: World Trade Organization) OMC Organização Mundial do Comércio ) will retain a 40% ownership interest in the new combined company. The merger combines the strategy, creativity, and technology applications and methodologies of two of the interactive industry's leading pioneers. The new AGENCY.COM will have projected 1998 revenue from interactive services of some $60 million and 375 employees with offices in New York, Boston, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Dallas, and London. No layoffs are anticipated as a result of this merger; and, in fact, the merged company will actively seek additional staff. Chris Butler, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Interactive Solutions, will become Chairman and Chan Suh, Chairman and CEO of AGENCY.COM, will become CEO of the new entity. Interactive Solutions' Boston office will become AGENCY.COM: Boston. Thor Johnson, currently Interactive Solutions Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , will become President of that office. Kyle Shannon will be Chief Creative Officer and Ken Trush will be Chief Financial Officer of the merged company. All other executives of both AGENCY.COM and Interactive Solutions will retain their current roles and titles. Suh said, "When Chris Butler and I began talking we saw immediate synergies and realized that a merger would bring unique benefits to our respective clients. 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." Founded in 1995, AGENCY.COM is an interactive relationship management firm that provides a complete range of strategic, creative, and technical services. Founded in 1990, Interactive Solutions provides clients competitive advantage for the interactive age through three capabilities; business strategy for interactivity, brand-driven interactive communications and enterprise-scale integration. The new AGENCY.COM will serve some of the world's leading corporations including ACE, American Express, Boots the Chemist, BMG BMG Bundesministerium für Gesundheit (Germand: Federal Ministry for Health) BMG Be My Girl BMG Blue Man Group BMG Bertelsmann Music Group BMG Be My Guest BMG Browning Machine Gun BMG Bulk Metallic Glass Interactive, British Airways, BT, General Motors, Glaxo Wellcome, GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) , Harvard Pilgrim Health Care, Hewlett-Packard, Hitachi America, Lucent Technologies, Malden Mills, MetLife, Nationwide Insurance, Nickelodeon, PBHG Funds Inc., Putnam Investments, Prudential, Reuters, Showtime Networks, The Economist Group, Uncle Ben's, Unilever and Xerox.
CONTACT: Kate Cummings
212/309-0652
kcummings@golinharris.com
or
Steve Hein
212/309-0642
shein@golinharris.com
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