RealTime IT News

Agency.com Acquires All of Online Magic

New York City-based Agency.com in New York said that it has acquired the shares of Online Magic that it did not already own. Financial terms were not disclosed.

Online Magic, an online services company with offices in London and New York, was already majority owned by Agency.com. Online Magic, with 90 employees working for clients like General Motors and Hewlett-Packard, will become an autonomous subsidiary of Agency.com, which has 130 employees working for clients like American Express and Texaco.

Eamonn Wilmott, 35, will continue as managing director of Online Magic in London, according to a New York Times report on the deal. Andy Hobsbawm, 34, president of Online Magic in New York, will relocate to London as chief creative officer for Europe.