Havas to acquire Snyder Communications' web services

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PARIS - Havas Advertising, Paris, has announced plans to issue up to $28 million in new shares to acquire 100% of Circle.com, the Internet services unit of U.S.-based Snyder Communications.

Havas bought Snyder last September in a $2.2 billion merger that turned the French group into the world's fourth-largest consolidated advertising group. That transaction covered 100% of Snyder's common stock -- including the Arnold Worldwide creative network as well as marketing services networks Bounty and Brann Worldwide -- but did not cover all tracking stock in Circle.com, traded on the Nasdaq exchange.

Havas Advertising Chairman and CEO Alain de Pouzilhac says the Circle.Com acquisition is part of a wider strategy of delivering interactive communications capabilities as a part of an integrated communications offer.

For more details, see full story on adageglobal.com.

Copyright February 2001, Crain Communications Inc.

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