Once registered, you can:

  • - Read additional free articles each month
  • - Comment on articles and featured creative work
  • - Get our curated newsletters delivered to your inbox

By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. You may unsubscribe at any time.

Are you a print subscriber? Activate your account.

Magnet Interactive puts itself on the block

Published on .

Magnet Interactive Group is looking for some money, either via an investment or a sale. "We need to do some sort of strategic/financial deal" to allow the Washington and Los Angeles i-shop to expand into other key markets, said Chief Operating Officer Bob Poulin. An ideal partner, he said, would have "deep pockets" and back-end/e-commerce expertise to marry with Magnet's design expertise. Magnet, with 200 employees and '99 revenue of $16 million, works for clients including Nissan North America's Infiniti and Kellogg Co. Meanwhile, SF Interactive, San Francisco and New York, sold a $10 million minority stake to William E. Simon & Sons, a private equity group. SFI will expand into key U.S. cities and develop new services.

Copyright December 1999, Crain Communications Inc.

Most Popular
In this article: