Razorfish Merges with Europe's Spray Network;
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The merger creates a combined international firm with 350 employees and revenues projected at more than $70 million in 1999. Financial details were not disclosed.
Razorfish has been on an acquisition binge lately, having recently acquired CHBI, Avalanche, Plastic, and <tag> media.
Jeff Dachis, the co-founder of Razorfish will remain president/CEO and Per Bystedt, the co-founder and CEO of Spray Network, will become chairman of the board. Craig Kanarick, Razorfish's other co-founder, will continue to serve as "chief scientist" and will also be vice-chairman of the board.
Spray will be known as Spray Razorfish, before becoming simply Razorfish. The deal will not effect Razorfish Studios, which is now a separate operating company.
Spray Network, founded in 1995, operates offices in Stockholm, Oslo, Helsingfors, Hamburg and San Francisco. Clients include Hennes & Mauritz, Electrolux, Nokia and TV4. Razorfish clients include Charles Schwab, CBS, Microsoft and The Smithsonian Institution.