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October 31, 2006 10:29 AM
Posted by Kim Peterson
Seattle digital advertising firm Avenue A | Razorfish said today it has acquired e-Crusade, an ad and marketing agency based in Hong Kong and Shanghai. E-Crusade will become a subsidiary of the company, and marks AA|R's first real presence in China.
E-Crusade's clients have included Coca-Cola, Xbox, HSBC and Nike. It has 43 employees, is profitable and expects sales of $500,000 to $600,000 for the rest of this year.
Avenue A | Razorfish has made an initial cash payment of $2.95 million, and said the total purchase price will be paid in cash and based partly on how much profit e-Crusade makes over the next four years.