T3 Media, one of the few remaining independent agencies in New York City, reportedly will accept a $3 million investment from The A Consulting Team.
According to T3 co-founder Chris Bryant, TACT, as it is commonly referred to, will own 30% of T3 Media for the cash infusion, according to the Silicon Alley Reporter. T3 Media estimates revenues of $4.2 million for the 1998 calendar year, according to the report.
TACT is a publicly traded, New York-based, IT consulting, training and software firm that posted revenues of $23 million in 1996, $35 million in 1997, and is on track to do $65 million this year according to Bryant.
Bryant was quoted as saying TACT will not be involved in the day-to-day business operations of T3, but the two firms have an arrangement in which they can collaborate on projects and use each other’s work force.
T3 will use the cash infusion to expand its production and account management staff, as well as to launch a Seattle office.
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