IllusionFusion! said
that it adopted a new, integrated corporate strategy to capitalize on what it
sees as the forthcoming boom in broadband communications services.
The company said it established IllusionFusion! as its “umbrella” brand,
absorbed its Media Circus Interactive unit into IllusionFusion! and
effectively made all of its business units interactive-centric.
The company also announced a $5 million investment from Tudor Private Equity
Group, named a new director and opened a state-of-the-art, digital sound
studio called Sound Lounge in New York.
As a result of its new structure, IllusionFusion! (IF!) said it is positioned
to become one of the leading interactive strategy companies in a market that
is projected to reach $15 billion by 2003, and one of the only companies
organized to create broadband content. Its solutions will enable its clients
to increase their brand awareness, generate additional revenue and save money
by offering an array of services through the marriage of its strategic
interactive services with its digital studios, the firm stated.
The company said its core capabilities include strategic services, online
advertising, branding, Web site design, e-commerce, TV commercial production
and post-production, 3D graphics and animation, special effects and sound
design.
“We’ve integrated our many technological and strategic capabilities to
provide full-service solutions
that help future-proof our clients as they migrate from narrowband to a rich-
media broadband,” said Peter Corbett, CEO of IllusionFusion.
IllusionFusion! also said it has closed a round of financing from Tudor
Private Equity Group, the private investment arm of Greenwich, CT-based Tudor
Investment Corp. The $5 million investment secured by the company will be used
for working capital as well as continued investment in technology.
Named to the board of directors was technology industry leader Craig D.
Goldman, currently president and CEO of Cyber Consulting Services Corp., and
formerly CIO of Chase Manhattan Bank.
IllusionFusion!’s clients include American Express, Coca-Cola, Conde Nast,
Converse, Gateway 2000, Intel, John Deere, Microsoft, MTV, Perry Ellis,
Scholastic, Simon & Schuster, Sony and Wunderman Cato Johnson.
