Didn't ICON CMT just aquire some big web design firm in SF about a month
ago? Organic or maybe Vivid? This whole M&A trend going on is weird. Some
big company just bought Studio Archetype, and CKS is merging with
someone....us little folks can't get any press any more, since the M&As are
filling up the column inches. Hmmm...maybe we should all aquire each other,
then spin each other off as separate companies? The paperwork would be a
killer, but we might get some good PR out of it. <cynical wink>
--Tamra
>From Silicon Alley Reporter's daily newsletter
>QWest Snags ICON CMT
> --------------------
> Qwest Communications International has acquired Weehawken, New
> Jersey-based ICON CMT in a $185 million stock trade. Today's
> announcement pushed ICON CMT shares up nearly 50 percent from
> 7 1/4 last Friday to 10 11/16 by mid-Monday.
>
> The Icon acquisition is the fourth one this year and the fifth
> in the last 12 months for Denver-based Qwest. Qwest President
> and CEO Joseph Nacchio sees ICON as another step towards its goal
> of creating a broadband multimedia network. In April, Qwest
> became the first network service provider to complete a
> transcontinental native Internet Protocol (IP) fiber network.
>
> "Icon has a very focused vertical market segmentation approach
> where they specialize in helping...convert existing embedded data
> sytems systems to a web-based, IP kind of world That's what we'll
> be doing with our larger sales force. Scott [Baxter, President of
> Icon CMT] and his team are very vertically focused, very
> application intensive," said Nacchio in a conference call today.
>
> Founded in 1991, Icon CMT provides Internet solutions for clients
> such as Bear Stearns, CBS, Swissotel and Pfizer. Last month, CBS
> named Icon their prefered service provider and Datek Online, the
> online brokerage firm, expanded their relationship with Icon to
> include Internet connectivity. Icon's revenue for the second
> quarter increased 63 percent to 19 million, up from 11.6 million
> for the same period in 1997.
>
> Contact: Chani Garb, 212-320-2315; [EMAIL PROTECTED]
> http://www.icon.com
> http://www.qwest.net
>
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Hart Consulting http://www.hartcons.com/
Web Design & Engineering Studio Silicon Valley, California
650-967-6162 1-800-749-8032 (fax)
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