T3 Media Wins $3 Million Investment
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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.