RealTime IT News

Icon Medialab Gains Insight

Icon Medialab International AB, an integrated e-business and Internet professional services firms, Friday acquired Insight Technology Group, an Internet systems analyst and consulting firm.

As part of the deal, Insight will receive just under 2.1 million Icon Medialab shares, with the potential to earn an additional 300,000 shares based on specific performance targets within the next 12 months.

The acquisition aims to enhance Europe-based Icon Medialab's technical capabilities in the U.S. to achieve the company's goal of creating and implementing a next- generation integrated e-business development process based on the rational unified process.

Insight provides Web development processes and advanced component technologies, acting as a technology and development partner to major corporations in various industries, including Coca-Cola, Liberty Mutual, Monsanto, NCR, Southwestern Bell Corp., SuperValu and TRW.

The acquisition follows Icon's announcement earlier this year that Ivar Jacobson, a creator of RUP and a vice president with Rational Software, had been named chief architect of the firm. Insight has worked with Jacobson in extending RUP.

"Icon Medialab is committed to both organic growth and growth through strategic acquisition," said Ulf Dahlsten, president and chief executive officer, Icon Medialab. "Insight strengthens our growth platform in the U.S. and significantly enhances our ability to deliver integrated e-consulting services on a truly global basis.

"Insight's commitment to developing innovative technology-based e-business strategies and pioneering affordable component-based architectures echoes Icon Medialab's vision to foster thoughtful innovation in Internet services," he said.