Interpublic Investment In Icon Medialab Receives Shareholder Approval
April 27, 1999 at 12:00 AM EDT
New York and Stockholm, April 27, 1999 -- A major investment by The Interpublic
Group of Companies, Inc. (NYSE:IPG) in Icon Medialab International AB (Stockholm
Stock Exchange O-List: Icon), Europe's leading Internet consultancy, received
the necessary approval of Icon Medialab's shareholders today in Stockholm.
Subject to the completion of final regulatory and administrative procedures, the transaction is expected to close in early May.
The US $20 million capital investment is part of a broad agreement between Interpublic and Icon Medialab that advances both companies as global leaders in the delivery of Internet strategies, e-business solutions and interactive technology services to marketers around the world. As previously indicated, the alignment includes cooperation agreements that will benefit clients of both companies, as well as options for additional investment by Interpublic in Icon Medialab. With an initial equity position of just under 20 percent, Interpublic will become Icon Medialab's largest shareholder and also will receive representation on Icon Medialab's board of directors.
The companies also announced the signing of final documentation related to the merger in Norway of Thunder House, the interactive division of Interpublic's JBR-McCann agency in Oslo, with Icon Medialab Norway. The merger, considered the first step in bringing the benefits of the alignment between Interpublic and Icon Medialab to specific markets, will create an 80-person Internet consultancy. The combined company will become one of the largest Internet services firms in Norway, among the world's most wired nations, and in Scandanavia.
Headquartered in Stockholm, Icon Medialab is Europe's largest, best-regarded and fastest-growing independent Internet consultancy, with more than 400 employees in 10 markets across Europe, Silicon Valley and Asia. The company was founded in 1996 and successfully went public on the Stockholm Stock Exchange in 1998. Blending the best practices of strategic consultancy and "end-to-end" Internet solutions delivery, Icon Medialab supports clients through six core disciplines. These include business strategy; brand development and research; technology development and deployment; customer relationship management; creative design and integrated communications; and information and media development. Icon Medialab has offices in the UK, Germany, Belgium, Denmark, Spain, Finland, Norway, Sweden, US and Malaysia. More information about Icon Medialab is available on the company's Web site at www.iconmedialab.com.
The Interpublic Group of Companies is one of the largest organizations of advertising, marketing communications, and interactive services companies in the world. Interpublic is comprised of McCann-Erickson WorldGroup, Ammirati Puris Lintas, The Lowe Group, DraftWorldwide, Western Initiative Media Worldwide, Octagon, International Public Relations, The Allied Communications Group and other related companies. The shares of The Interpublic Group of Companies, Inc. are listed on the New York Stock Exchange (symbol: IPG).
Subject to the completion of final regulatory and administrative procedures, the transaction is expected to close in early May.
The US $20 million capital investment is part of a broad agreement between Interpublic and Icon Medialab that advances both companies as global leaders in the delivery of Internet strategies, e-business solutions and interactive technology services to marketers around the world. As previously indicated, the alignment includes cooperation agreements that will benefit clients of both companies, as well as options for additional investment by Interpublic in Icon Medialab. With an initial equity position of just under 20 percent, Interpublic will become Icon Medialab's largest shareholder and also will receive representation on Icon Medialab's board of directors.
The companies also announced the signing of final documentation related to the merger in Norway of Thunder House, the interactive division of Interpublic's JBR-McCann agency in Oslo, with Icon Medialab Norway. The merger, considered the first step in bringing the benefits of the alignment between Interpublic and Icon Medialab to specific markets, will create an 80-person Internet consultancy. The combined company will become one of the largest Internet services firms in Norway, among the world's most wired nations, and in Scandanavia.
Headquartered in Stockholm, Icon Medialab is Europe's largest, best-regarded and fastest-growing independent Internet consultancy, with more than 400 employees in 10 markets across Europe, Silicon Valley and Asia. The company was founded in 1996 and successfully went public on the Stockholm Stock Exchange in 1998. Blending the best practices of strategic consultancy and "end-to-end" Internet solutions delivery, Icon Medialab supports clients through six core disciplines. These include business strategy; brand development and research; technology development and deployment; customer relationship management; creative design and integrated communications; and information and media development. Icon Medialab has offices in the UK, Germany, Belgium, Denmark, Spain, Finland, Norway, Sweden, US and Malaysia. More information about Icon Medialab is available on the company's Web site at www.iconmedialab.com.
The Interpublic Group of Companies is one of the largest organizations of advertising, marketing communications, and interactive services companies in the world. Interpublic is comprised of McCann-Erickson WorldGroup, Ammirati Puris Lintas, The Lowe Group, DraftWorldwide, Western Initiative Media Worldwide, Octagon, International Public Relations, The Allied Communications Group and other related companies. The shares of The Interpublic Group of Companies, Inc. are listed on the New York Stock Exchange (symbol: IPG).
| CONTACTS: | Interpublic - New York Eugene P. Beard Vice-Chairman and CFO (212) 399-8053 Barry Linsky Senior Vice-President Planning and Business Development (212) 399-8068 Icon Medialab - Stockholm Franco Fedeli Chief Executive Officer +46 70 437 90 90 Björn Nordstrand Chairman of the Board +46 70 594 49 19 Jesper Jos Olsson Co-founder +46 70 437 90 02 |