RealTime IT News

Icon Medialab Expands Rapidly in Europe

Within a week the Sweden-based Internet company Icon Medialab International AB acquired companies in Italy, France and England.

Franco Fedeli, CEO at Icon Medialab International, explained the company's strategy to aggressively move in to key markets and quickly reach critical mass. The market has been waiting for more takeovers.

After three new deals Icon Medialab are now represented in 12 countries.

Icon Medialab this week established operations in France through acquiring one of France4s leading Internet consultancies, Web Concept. While Web Concept is not a large company, the cultural fit with Icon Medialab is considered excellent and could allow smooth future expansion in France.

At the same time Icon Medialab also broke into the Italian market through the acquisition of the Milan-based Internet agency I.Com, one of the three leading Net consultancies in Italy.

Icon Medialab is already established in the rapidly growing British Internet market, both in its own right and through the acquisition of Module Communications Group Ltd. Icon Medialab recently acquired the London-based new media agency IN.form.

The Interpublic Group of Companies, Inc. (IPG) in March invested $20 million in the Net consulting company.

Icon Medialab group plans a Nasdaq IPO, including a deal with IPG, according to Franco Fedeli.