Whittman-Hart, a Chicago computer services company, agreed to buy USWeb/CKS, San Francisco, in a stock swap to create an Internet services giant. The combined company was worth $14 billion before the deal was made public; both stocks fell the day the deal was announced amid skepticism about whether the merger would work, dropping the combined worth to $9.4 billion. The unnamed merged company will be based in Chicago, with Whittman-Hart Chairman-CEO Robert Bernard serving as president-CEO; USWeb CEO Robert Shaw will be chairman. Whittman recently bought Chicago-based Four Points Digital.
Copyright December 1999, Crain Communications Inc.