The New York-based digital ad firm said in a court complaint last Thursday that executive "raiding" on iCrossing's part forced it to close its Dallas office.
Internet consultancy Agency.com says it plans to reorganize its business by closing its Portland, Ore., offices and cutting about 19 percent of its work force, or 200 employees. The New York-based company--which provides businesses with advice on the interactive and digital realm, including marketing and technologies--plans to restructure its operations beginning Sept. 21 and sharpen its focus on the most important areas of its business. Agency.com CEO Chan Suh said that employees in New York, who were all accounted for after last week's terrorist attacks on the city, are unaffected by the restructuring. Agency.com will take a charge in the third quarter of about $18 million to $23 million related to the restructuring, which it expects to result in $25 million in annual savings. The company also said that its pending sale to Seneca Investments is on track and will close by the end of October.
New York-based Agency.com said Tuesday it will merge with a subsidiary of San Francisco investment group Seneca Investments. Agency.com is a 6-year-old consultancy specializing in strategy, branding and technology services for companies that do business on the Web via wireless devices and on interactive television. The deal requires approval from certain shareholders, and the companies will have a special meeting by the end of September. If passed, Agency.com shareholders would receive $3.35 cash per share, up from a $3-per-share offer made originally in mid-May.
Agency.com, which provides Web development, media and design services, formed a pact with Motorola to give insurance companies remote access to database information via Motorola's latest line of handsets. New York-based Agency, which has cut several wireless deals in recent months, said it will work with Motorola to provide additional capabilities for its Java 2 Micro Edition technology-enabled handsets, slated to be available in April. J2ME is designed for small gadgets such as handheld computers, cellular phones or car-navigation systems.
Web consulting company Agency.com said it has completed the development work for the launch of Mviva, a European wireless portal service. Mviva is a mobile portal that delivers content over a variety of handheld devices as well as to PCs. Customers will have access to content and services such as news and sports results, email access and travel services. AOL Europe has a 15 percent stake in Mviva.