Big German new-media agency Pixelpark goes public

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BERLIN--Pixelpark, Germany's biggest new-media marketing specialist, is going public, offering 20% of its shares between now and Oct. 4.

Pixelpark specializes in online media planning and buying, along withadvising clients on e-commerce and Web design. Pixelpark founder Paulus Neef hopes to use the expected $60 million raised to fund further expansion in Europe. In July, Pixelpark opened a U.K. office to join to its network of offices in Berlin, Hamburg, Cologne, Stuttgart, Basle, New York, Paris and Zurich.

German media giant Bertelsmann will retain a 60% stake in Pixelpark and Mr. Neef will have 20%. Bertelsmann first invested in Pixelpark in 1996. Earlier this month, Pixelpark appointed Scholz & Friends, Berlin, to create an advertising campaign to promote the share offering.

Pixelpark was founded in 1991 and in the year to June 1999 had gross income of $23.5 million, twice as much as the previous 12 months.

The agency employs 320 and owns the research company Institute for Media Development.

The agency won a number of blue-chip clients in the past years, among them adidas-Salomon, Allianz, Deutsche Lufthansa, Deutsche Telekom, UBS and Siemens. Pixelpark recently won its first assignment for Procter & Gamble Co., to create a new Internet campaign for its existing fragrance Hugo and new brand Hugo Darkblue.

Copyright October 1999, Crain Communications Inc.

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