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MOTIENT ACQUIRES RARE MEDIUM GROUP

Published on .

(May 15, 2001) -- Wireless company Motient Corp., Reston, Va., has acquired outright interactive agency Rare Medium Group using a combination of newly issued Motient stock, shares of its XM Satellite Radio stock and other consideration.

The merged companies, which will use the Motient name, will provide strategic and technical consulting, Web development, information architecture design, e-commerce system integration and other services, including Motient's eLink and Blackberry wireless e-mail products.

Each share of Rare Medium's outstanding common stock will be exchanged for one-tenth of a share of a new class of Motient preferred stock.

The company will remain headquartered in Reston. Rare Medium has a market cap of approximately $190 million. -- Adrienne Mand

Copyright May 2001, Crain Communications Inc.

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