AGENCY.COM MERGER WITH SENECA APPROVED

Investment Group Has Sights Set on Organic

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NEW YORK (AdAge.com) -- I-shop Agency.com has become a private entity again after shareholders approved of its merger with Seneca Investments.

Seneca, which is

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jointly managed by Omnicom Group and Pegasus Partners II, has made offers in recent months for the shares of company founders Chan Suh and Kyle Shannon, and also for the remaining outstanding shares.

Shareholders voted Thursday to accept $3.35 per share from Seneca, now giving Seneca 100% ownership of the company.

Seneca still also has an outstanding offer to purchase all shares of i-shop Organic. Seneca owns a minority stake in Organic as a result of a similar shares transfer from Omnicom.

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