Internet services company USWeb/CKS said today it will acquire Mitchell Madison Group (MMG), a consulting firm with a business-to-business E-commerce focus. The deal, valued at $300 million, is a purchase is a stock transaction in which USWeb/CKS will issue approximately 14.4 million shares of USWeb/CKS stock for all of the equity interests of MMG.
MMG, which was formed five years ago by 30 former McKinsey & Co. employees, brings a client base that includes large financial firms. Recent expansions have taken the company into the health care, retail, technology, and telecommunications sectors.
According to Robert Shaw, CEO of USWeb/CKS, acquiring MMG will give his company the ability to pursue more Web business process engagements. He also said USWeb/CKS examined a number of companies before settling on MMG.
MMG CEO Tom Steiner will join USWeb/CKS as president and chief operating officer of USWeb/CKS.
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.