Modem Media Spends $64 Million for E-Commerce Firm
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Modem Media (MMPT), which began as a marketing firm, has been expanding its business services recently. Monday's acquisition of privately-held vivid is expected to close in January. Vivid will be integrated into Modem Media's operations.
Vivid focuses on creating e-commerce sites for start-up businesses as well as established companies. Its Internet-related services include strategic planning, engineering, systems architecture, design and project management.
G.M. O'Connell, Modem Media's chairman and chief executive officer, said the acquisition will strengthen the company's e-commerce offerings.
"Vivid's engineering prowess and proven information architecture and design methodologies augment our ability to provide exceptional strategic guidance and complete end-to-end services for our clients."
Modem Media has been adding to its services in the past few months. In October, the company purchased MEX Multimedia Experts GmbH, a German developer of interactive business tools, for approximately $5.4 million in cash and stock. The company also opened a strategic consulting division in November designed to improve customer relations.