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(April 2, 2001) -- Omnicom Group made public its plans for the struggling companies in its e-services holdings late today. The New York-based agency holding company said that it would form a new e-services holding company, in conjunction with Pegasus Partners II, L.P., believed to be a venture capital firm.

Omnicom said in a statement that it would contribute "several of its existing investment positions in e-services consulting companies held by its Communicade unit" to the venture. Those interests are minority stakes in, Organic and Razorfish.

Pegasus and Omnicom said they planned "to maximize consolidation and other strategic opportunities among companies in the currently depressed e-services consulting and professional services marketplace." Omnicom officials could not be reached for comment.

Such a move makes sense for Omnicom, because, despite the industry's problems, all three companies have valuable clients, including some of Omnicom's, on their rosters. Signs of closer ties between Omnicom units and the I-shops have been growing in recent weeks. Last week, Organic and BBDO acknowledged they were in talks to establish a strategic alliance that would pair Organic with the BBDO online shop @tmosphere.

Copyright April 2001, Crain Communications Inc.

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