In its third merger/acquisition in three weeks, AGENCY.COM in New York City said it has taken a 100% ownership stake in and merged with Spiral Media, a New York-based Internet and digital media communications company.
AGENCY.COM said the move will strengthen its position in the interactive marketing industry by adding leadership, Fortune 500 clients and creative and technical excellence.
Spiral Media will become a wholly owned subsidiary of AGENCY.COM and will operate as Spiral Media, an AGENCY.COM company. Art Williams, CEO of Spiral Media will take on the additional role of executive vice president, operations for AGENCY.COM. Financial details were not disclosed.
AGENCY.COM first joined forces with Spiral Media in June 1997, after purchasing a substantial stake in the company.
AGENCY.COM recently announced mergers with Online Magic and Interactive Solutions, forming an interactive company with more than 375 employees with offices in New York, Boston, San Francisco, Dallas and London. AGENCY.COM said it now has projected revenues of $60 million in 1998.
Founded in 1995, Spiral Media currently has 42 employees and handles such clients as Reuters, AT&T, React, Nickelodeon, Oppenheimer Funds, Xerox, NEC and Unilever.
Separately, AGENCY.COM said Dana Tower, former senior analyst for interactive technology strategies at Forrester Research will join the company as vice president of client services.