AnswerThink acquires online retailing consultancy

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AnswerThink Consulting Group, which recently merged with Think New Ideas, New York, has acquired CFT Consulting, a leading e-business consultancy focusing on the retail industry. CFT's 90 employees, 75 of whom are experienced consultants, will form AnswerThink's e-Retail solutions group, led by Ken Goldberg and Ken Morris, co-founders of CFT. The aggregate consideration for the transaction is estimated to be $14.8 million of cash and AnswerThink stock; an additional payment of $10.3 million is pending on CFT's achievement of certain revenue milestones.

Copyright July 1999, Crain Communications Inc.

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