Clarant IPO, buying spree

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Clarant Worldwide Corp., Dallas, filed for an initial public offering with the Securities & Exchange Commission. Formerly known as Radiant Worldwide Corp., the company also announced plans to buy eight high-tech and Internet companies: Align Solutions Corp.; Young & Rubicam's interactive unit Brand Dialogue, New York; interactive developer Free Range Media; Integrated Consulting (also known as I.Con Interactive); interactive agency InterActive8; Web consulting and marketing company Multimedia Resources; Internet strategy company Potomac Partners Management Consulting; and information technology consultancy RSI Group. Y&R will sell Brand Dialogue for $50.7 million in stock, giving it an 11.3% stake in Clarant. Michael H. Jordan, former chairman-CEO of CBS Corp., will be Clarant's chairman.

Copyright June 1999, Crain Communications Inc.

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