THINK New Ideas Inc. in New York City said it acquired two interactive companies, one in London and one in San Francisco, as the result of a $6.5 million merger/acquisition of a subsidiary of the company with UbiComs, a U.S.-based holding company.
The UbiComs companies, San Francisco-based Red Dot Interactive and UK-Based NetComs, both provide strategic and e-technology consulting, as well as Internet and interactive solutions.
Both firms provide a full range of enterprise-wide applications, online
marketing and e-commerce solutions, development services and other
productivity solutions, THINK said.
In exchange for the acquisition of these companies, THINK will issue to the
former stockholders of UbiComs an aggregate of $6.5 million in shares of the
company’s common stock over the next two years, of which $4.25 million was
paid at closing.
“We have been patient in our search for UK and European representation,
waiting for the market to mature 7,” said Ron Bloom, Chairman and CEO of
THINK. “Management believes that NetComs’ combination of strategic consulting
and next-generation implementation skills are unique in that marketplace, are
an ideal fit, and will prove instrumental in THINK’s further expansion into
Europe and Asia.”
“Red Dot Interactive is one of the longest-established (founded in 1991) San
Francisco firms in our sector, dating its history to pre-Web new media
solutions, and we have been working with the company for some time on some of
our largest relationships,” Bloom said.
Christofer Solheim, chairman of UbiComs, was named managing director of THINK
Europe. “We felt that Think New Ideas is clearly the most dynamic and
innovative
leader in this sector and offers a perfect match to our current clientele as
well as our ambitions in the US and European market,” he said.
Anita Bloch, founder of Red Dot Interactive, was named managing director of
THINK San Francisco.
UbiComs clients include Hewlett-Packard, Oracle, Raychem, Acer Computer,
Leasing
Solutions, and McKesson. Both offices will retain staff and senior management
will migrate to management positions within THINK.
