The boards of Interpublic Group of Cos., New York, and interactive consultancy Icon Medialab International, Stockholm, struck a broad agreement that includes the U.S. company becoming the Swedish company's biggest share- holder. The agreement, subject to approval by Icon Medialab shareholders, includes a $20 million capital investment by Interpublic in Icon Medialab, giving it an initial equity position of 20%. Interpublic will designate Icon Medialab as "preferred provider" of interactive services to Interpublic's major agencies and companies. The relationship will give Icon Medialab access to Interpublic's global infrastructure.
Copyright March 1999, Crain Communications Inc.