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Grey Advertising Inc. Acquires Beyond Interactive

Adding another interactive agency to its stable, Grey Advertising Inc. has acquired Beyond Interactive, a full-service online advertising agency.

Financial terms of the transaction were not disclosed.

With projected 1999 billings of $25 million and 80 employees, Beyond Interactive serves such clients as Nickelodeon, Primedia, Advanta, Borders Books & Music, Petstore.com, Third Age, FortuneCity and Newspage. Its current management team will continue to run the company, which will be operated as an independent brand.

Beyond Interactive's services include online media planning and buying; campaign management; return on investment (ROI) analysis and optimization; affiliate program management; permission marketing; viral marketing and online promotions.

"We are delighted to join forces with this entrepreneurial online advertising company, which has experienced explosive growth under the leadership of Jonn Behrman," said Edward H. Meyer, Grey Advertising's chairman, president and CEO.

"Together, we intend to leverage Beyond Interactive's capabilities and proprietary technologies across Grey's entire digital marketing network. This acquisition will enable us to provide clients with a full spectrum of the most advanced Internet communications in the industry."

Grey Advertising, with $7.8 billion in billings, ranks as the sixth largest advertising agency in the world and says it is the largest in the US. Grey's worldwide interactive holdings, with revenues in excess of $75 million annually, rank among the top three companies on Adweek's "Top 50 Interactive" list.

Grey's new media companies include Grey Interactive Worldwide, MediaCom Digital and media.com, the media service companies specializing in cross-platform media planning and Internet media buying, respectively.