RealTime IT News

THINK Acquires UbiCom Companies

THINK New Ideas Inc. in New York City said it acquired two interactive companies, one in London and one in San Francisco, as the result of a $6.5 million merger/acquisition of a subsidiary of the company with UbiComs, a U.S.-based holding company.

The UbiComs companies, San Francisco-based Red Dot Interactive and UK-Based NetComs, both provide strategic and e-technology consulting, as well as Internet and interactive solutions.

Both firms provide a full range of enterprise-wide applications, online marketing and e-commerce solutions, development services and other productivity solutions, THINK said.

In exchange for the acquisition of these companies, THINK will issue to the former stockholders of UbiComs an aggregate of $6.5 million in shares of the company's common stock over the next two years, of which $4.25 million was paid at closing.

"We have been patient in our search for UK and European representation, waiting for the market to mature 7," said Ron Bloom, Chairman and CEO of THINK. "Management believes that NetComs' combination of strategic consulting and next-generation implementation skills are unique in that marketplace, are an ideal fit, and will prove instrumental in THINK's further expansion into Europe and Asia."

"Red Dot Interactive is one of the longest-established (founded in 1991) San Francisco firms in our sector, dating its history to pre-Web new media solutions, and we have been working with the company for some time on some of our largest relationships," Bloom said.

Christofer Solheim, chairman of UbiComs, was named managing director of THINK Europe. "We felt that Think New Ideas is clearly the most dynamic and innovative leader in this sector and offers a perfect match to our current clientele as well as our ambitions in the US and European market," he said.

Anita Bloch, founder of Red Dot Interactive, was named managing director of THINK San Francisco.

UbiComs clients include Hewlett-Packard, Oracle, Raychem, Acer Computer, Leasing Solutions, and McKesson. Both offices will retain staff and senior management will migrate to management positions within THINK.