C&W gets TX arm in Springbok buy

DALLAS: Cohn & Wolfe last week became the latest multinational to

stake a claim in Texas by purchasing hi-tech shop Springbok

Technologies.



The agencies did not disclose the terms of the deal, which C&W CEO

Stephen Aeillo said had been under negotiation for about 11 months.



Springbok founder Glenn Abel will become president of the new entity,

Springbok/Cohn & Wolfe, and will join C&W's senior management

committee.



"We see Springbok leading the technology practice," Aeillo said, noting

no organizational changes will take place in the immediate future. Prior

to the acquisition, C&W employed about 15 hi-tech staffers, mostly in

New York.



The move follows staff cuts at both agencies. C&W laid off 30 employees

nationwide in April and closed its 11-person Chicago office this

month.



Springbok has reduced staff by 25% to 30% this year, leaving 48 people

in Richardson, TX, and 13 in Austin.



"No company in the marketing communications area has been immune from

the economic downturn," said Aeillo, asserting his belief that

technology will once again become a growing PR segment.



Springbok's attraction included a strong growth record in previous years

with nearly dollars 10 million in 2000 revenues.



However, problems at the agency have been widely rumored in Texas PR

circles. One competitor praised Springbok's ability to identify hot

young technology companies, but noted its high client and staff turnover

rates.



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