dcsimg
RealTime IT News

Two Thinks Merge in $231 Million Deal

E-commerce companies THINK New Ideas, Inc. and AnswerThink Consulting Group, Inc., merged Friday in a stock deal worth $231 million.

Both companies offer comprehensive online solutions to businesses.

THINK New Ideas shareholders will receive 0.70 shares of AnswerThink common stock for each share of THINK New Ideas common stock. The transaction is expected to close in the third quarter.

The combined company, which does not yet have a name, will provide business, marketing and technology expertise for business clients. It will help clients develop new products and channels, position, brand and market businesses and services and Web-enable the most applications to incorporate customers, prospects, employees, suppliers and partners.

"The union of these two companies will enable us to provide these solutions, helping our clients transform their organizations into cohesive and powerful e-business networks that encompass their brands, operations, customers, suppliers and other strategic partners," said Ted A. Fernandez, chairman and CEO of AnswerThink.