A new Internet advertising and electronic commerce company called Clarant Worldwide Corp. is planning an IPO
and New York City-based Young & Rubicam Inc. said it will hold a 13
percent stake.
Clarant, which will elect former CBS Corp. top executive Michael Jordan as
chairman when its IPO closes, filed for a $175 million stock offering. Gil G.
Marmol, a former vice president of Perot Systems Inc. and senior partner of
McKinsey & Co. Inc., is to be president and CEO of Clarant.
Y&R said it would contribute the New York office of its Brand Dialogue interactive
agency to the group of interactive media companies that will form Clarant. In
exchange, Young & Rubicam said it will hold a 13 percent stake in Clarant.
Clarant said it expects to acquire seven other companies as its nucleus,
including: Align Solutions Corp., a
technology company; Free Range Media Inc., a
developer of online business solutions; Integrated Consulting Inc. (known
as i.con interactive), an interactive marketing and online solutions
provider; InterActive8 Inc., an interactive and
strategy consulting agency; Multimedia Resources LLC, an interactive
consulting and marketing agency; Potomac Partners Management Consulting
LLC
, an interactive strategy firm; and RSI Group Inc., an IT consulting
firm. Financial and equity arrangements were not disclosed for those deals.
Clarant, apparently to be based in Dallas, said it will offer clients
assistance in developing and expanding Internet and economic business models
through its integrated strategic, creative and technology practice areas.