Razorfish Sinks Teeth Into i-Cube
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Digital communications firm Razorfish Inc. Tuesday extended its acquisition strategy by purchasing electronic commerce consulting firm i-Cube for an estimated $677 million.
Each share of i-Cube will be exchanged for 0.875 shares of Razorfish. Cambridge, Mass.-based i-Cube will be absorbed by Razorfish, which is headquartered in New York City.
The acquisition combines Razorfish's Digital Change Management service with i-Cube's e-business consulting services to deliver digital solutions across a variety of platforms, networks, and devices. Michael Pehl, chief executive officer of i-Cube, will become chief operating officer and a director of Razorfish. The transaction is expected to be completed in the fall.
"With this deal, Razorfish significantly enhances our Digital Change Management service offering, allowing us to continue revolutionizing the digital economy across platforms, devices, and networks, from front to back end," said Jeff Dachis, Razorfish chief executive officer and president.