Young & Rubicam to Take 13 Percent Stake in Clarant
Page 1 of 1
Clarant, which will elect former CBS Corp. top executive Michael Jordan as chairman when its IPO closes, filed for a $175 million stock offering. Gil G. Marmol, a former vice president of Perot Systems Inc. and senior partner of McKinsey & Co. Inc., is to be president and CEO of Clarant.
Y&R said it would contribute the New York office of its Brand Dialogue interactive agency to the group of interactive media companies that will form Clarant. In exchange, Young & Rubicam said it will hold a 13 percent stake in Clarant.
Clarant said it expects to acquire seven other companies as its nucleus, including: Align Solutions Corp., a technology company; Free Range Media Inc., a developer of online business solutions; Integrated Consulting Inc. (known as i.con interactive), an interactive marketing and online solutions provider; InterActive8 Inc., an interactive and strategy consulting agency; Multimedia Resources LLC, an interactive consulting and marketing agency; Potomac Partners Management Consulting LLC , an interactive strategy firm; and RSI Group Inc., an IT consulting firm. Financial and equity arrangements were not disclosed for those deals.