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Scient ending London lease

Scient, the once prosperous but now struggling Internet consulting company, said Friday it has struck a deal to walk away from a real estate lease in London. Scient's original obligation on the lease had been $200 million but the company did not disclose how much it paid to terminate the agreement. The company also said in a statement that it expects to terminate additional lease agreements. The San Francisco-based firm, which once operated in Paris, London, Singapore, Munich and Austin, Texas, prospered during the late 1990's by charging dot-com companies huge fees for its advice on developing Web sites. On Friday, Scient was trading at 13 cents.

Greg Sandoval Former Staff writer
Greg Sandoval covers media and digital entertainment for CNET News. Based in New York, Sandoval is a former reporter for The Washington Post and the Los Angeles Times. E-mail Greg, or follow him on Twitter at @sandoCNET.
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Scient, the once prosperous but now struggling Internet consulting company, said Friday it has struck a deal to walk away from a real estate lease in London. Scient's original obligation on the lease had been $200 million but the company did not disclose how much it paid to terminate the agreement. The company also said in a statement that it expects to terminate additional lease agreements.

The San Francisco-based firm, which once operated in Paris, London, Singapore, Munich and Austin, Texas, prospered during the late 1990's by charging dot-com companies huge fees for its advice on developing Web sites. On Friday, Scient was trading at 13 cents.