Razorfish acquires TV program design shop

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Razorfish, New York, acquired Fuel, a Los Angeles-based broadcast design firm and its affiliated commercial production firm, Tonga. Under the terms of the acquisition, Razorfish will issue up to 656,000 shares of its common stock and give $750,000 in cash to Fuel and Tonga's sole shareholder in exchange for the entire equity interest in Fuel and Tonga. A further contingent payment in shares or cash will be made in 2000 based upon the combined revenue of Fuel and Tonga for 1999, provided that the total consideration for the acquisition will not exceed $38 million. New programming and business strategies developed by Razorfish and Fuel may enable consumers to simultaneously browse a Web site or shop on the Web while watching TV.

Copyright July 1999, Crain Communications Inc.

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