IQ News: Razorfish Joins the Hunt For Think New Ideas

Silicon Alley interactive developer Razorfish has joined the lengthy list of suitors for Think New Ideas. According to sources close to the company, however, Razorfish has taken its interest one step further, placing a bid to buy the New York-based shop. The amount of the bid wasn’t known at press time.
Other companies who industry executives say have held discussions with Think include True North Communications interactive agency Modem Media.Poppe Tyson and two unidentified back-end technology companies.
Any agreement for Think to be purchased would likely be inked in the next few weeks as contracts for several senior managers at Think expire June 1. Jeff Dachis, CEO of Razorfish, and G.M. O’Connell, CEO of Norwalk, Conn.-based Modem, declined comment. Think executives did not return calls by press time.
Think and Razorfish both are part of Omnicom Group’s Communicade Group, which holds a minority stake in a number of interactive agencies. Omnicom owns 33 percent of Razorfish and 14 percent of Think.
Should Razorfish succeed it would mark another large buy for the company, which acquired six agencies in 1998 and has offices throughout the United States and Europe. Its clients include Charles Schwab & Co. and Ericsson. Think’s clients include Cendant and Gillette.
Razorfish went public April 27, and Think has been public since 1996. Razorfish stock was down 3 1/2 points at press time on Thursday to close at 36 3/8. Think stock was up 11/16ths to 14 3/4.
Separately,, also a Communicade shop, is expected to announce today that it has bought Chicago-based interactive shop Digital Vision. The move expands its presence in that market, where it has had an office since buying Eagle River Interactive last year. Terms were not disclosed. ƒ