Razorfish Merges with Europe’s Spray Network;

Razorfish made another move this week by merging with the European-based Spray Network, according to the
Silicon Alley Reporter.

The merger creates a combined international firm with 350 employees and
revenues projected at more than $70 million in 1999. Financial details were
not disclosed.

Razorfish has been on an acquisition binge lately, having recently acquired
CHBI, Avalanche, Plastic, and <tag> media.

Jeff Dachis, the co-founder of Razorfish will remain president/CEO and Per
Bystedt, the co-founder and CEO of Spray Network, will become chairman of the
board. Craig Kanarick, Razorfish’s other co-founder, will continue to serve as
“chief scientist” and will also be vice-chairman of the board.

Kanarick, who has reportedly been spending a lot of time overseas, was quoted
as saying that Razorfish pursued the relationship because “it makes sense for
both of our organizations to keep growing. We have been friends with Spray
since the companies started. Spray has the same philosophy as we do, the same long-term vision.”

Spray will be known as Spray Razorfish, before becoming simply Razorfish. The
deal will not effect Razorfish Studios, which is now a separate operating

Spray Network, founded in 1995, operates offices in Stockholm, Oslo,
Helsingfors, Hamburg and San Francisco. Clients include Hennes & Mauritz,
Electrolux, Nokia and TV4. Razorfish clients include Charles Schwab, CBS,
Microsoft and The Smithsonian Institution.

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