THINK New Ideas Acquires Envision Group
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The purchase price for the acquisition includes an initial payment of $3.5 million in THINK common stock and a potential earn-out, based on performance, of an additional $5.5 million.
"This acquisition exemplifies THINK's five key ingredients for a strategic acquisition -- growth, profitability, clients, talent and culture," said Ron Bloom, chief executive officer of THINK. "We look forward to utilizing Envision's proven expertise in interactive marketing, e-business development and technology across our entire network."
Envision Group clients include US WEST, Sony, Isuzu, Kinko's and Mazda.
THINK, with offices in Atlanta, Boston, London, Los Angeles, New York, San Francisco, and Seattle, provides a broad range of information technology and interactive business solutions. Clients include BankBoston, BellSouth, Coca- Cola, Coral Energy, Gillette, IBM, Network Associates, Nortel Networks, Procter & Gamble, Time Inc. New Media, and Turner Broadcasting.