- Clarity, one of the UK's last sizeable privately held new media consultancies, has been acquired by US e-business company, Proxicom, for £45.6 million ($73 million) in a cash and share deal.
Clarity, which has around 80 staff, will merge with Proxicom's existing UK operation. Proxicom currently has offices in London, Munich, Rome and Madrid.
On completion of the deal, Proxicom's London office will become its largest international operation. Last year Clarity had a turnover of $6.5m and its clients include Abbey National Group, BT, Dixons, Currys, Eurostar, and Royal & SunAlliance.
The UK office of Proxicom will be headed up by Clarity managing director, Andrew Skates. According to Skates, Clarity had spoken to a number of other potential buyers but Proxicom offered the best cultural fit.
Martin Chilcott, chairman and co-founder of Clarity, and current Proxicom UK managing director, Carina Smith, will take up senior-level business development roles across Proxicom's pan-European operations.