e-Crusade, which has offices in Hong Kong and Shanghai, will retain its brand identity and will operate as a subsidiary of the US-based digital marketing network. Its existing leadership team of co-founders Royce Lee and Venus Lee (pictured), and chief creative director Endy Fung, will also remain intact.
The total purchase price, payable in cash, will be determined by an earnout arrangement based on profit contributions from e-Crusade over the next four years and e-Crusade's net asset value on October 31, 2006. A cash payment of $2.95 million was paid as upfront consideration on the earnout. The Avenue A | Razorfish network includes 12 US locations, along with UK agency DNA, Australian player Amnesia, and Neue Digitale in Germany.
The total purchase price, payable in cash, will be determined by an earnout arrangement based on profit contributions from e-Crusade over the next four years and e-Crusade's net asset value on October 31, 2006. A cash payment of $2.95 million was paid as upfront consideration on the earnout. The Avenue A | Razorfish network includes 12 US locations, along with UK agency DNA, Australian player Amnesia, and Neue Digitale in Germany.
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