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Short Take: TN Technologies files for IPO

Interactive ad agency TN Technologies has filed with the Securities and Exchange Commission for an initial public offering to raise up to $30 million. TN, a spin-off of giant ad agency holding company True North Communications (TNO), is merging with new media ad pioneer Modem Media in conjunction with the offering. Underwriters are Morgan Stanley, Donaldson, Lufkin & Jenrette, and Robertson, Stephens.