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NEW YORK Omnicom has bought Agency.com from Seneca for an undisclosed sum, the holding company confirmed this morning on a conference call regarding its second-quarter earnings.
The acquisition comes two years after Omnicom transferred its i-shop investments, including a 35 percent stake in Agency.com, to Seneca in exchange for preferred stock in the firm. Seneca eventually assumed 100 percent ownership in Agency.com by purchasing its remaining shares and taking the publicly traded company private.
Agency.com chairman and CEO Chan Suh applauded the deal, saying that it gives the New York-based interactive shop additional financial security—an attractive selling point.
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