Financial terms of the deal were not disclosed.
Tuckett/Parshall, which will be renamed as the TPI division of Interactive8,
has estimated billings of $500,000 from clients like Essence magazine, Motown Records and Morgan Stanley, Dean Witter & Co., according to The New York Times.
TPI will be headed by Lawrence Tuckett, 43, founder and partner at
Tuckett/Parshall, who also becomes creative director, and Michael Waite, 30,
partner, who becomes executive producer.
The acquisition “puts us at the forefront of urban online marketing and will
greatly benefit companies expanding into the African-American consumer
demographic,” Bill Markel, partner at Interactive8, was quoted as saying.
Interactive8 has 37 employees and estimated billings of $4.9 million from
clients like AT&T Corp., the Citibank unit of Citicorp and the M&M/Mars unit
of Mars Inc.