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NEW YORK Digitas today completed its first acquisition in its 24-year history, the $160 million stock-for-stock purchase of Modem Media.
Starting with the open of the market on Monday, the combined company will be listed on the Nasdaq under the symbol DTAS, and Modem shares (MMPT) will cease to be traded.
The combined company will operate as a holding company of sorts: Digitas Inc. will be led by chairman and CEO David Kenny and will comprise two agency networks, Digitas and Modem.
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