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BOSTON aQuantive on Monday said it has signed a definitive agreement to acquire independent interactive agency SBI.Razorfish for $160 million, comprised of $85 million in cash, and $75 million in convertible notes. The transaction is expected to close in late July. (aQuantive already owns i-shops Avenue A and i-Frontier.)
Razorfish is privately held and has more than 500 employees. It posted net revenue of $93 million in 2003, excluding billings to clients for reimbursable costs and was last year profitable, aQuantive said.
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